Home prices are forecast to go back up again, joining home resales in their upward trend, according to Lawrence Yun, chief economist at the National Association of Realtors, who spoke at the group’s annual conference and expo in San Diego today. In the past, NAR’s forecasts have been characterized as overly optimistic. Nonetheless, Yun predicted that home prices will rise by 4 percent, while home resales, which are expected to reach 5 million this year, will surpass that level in 2010, hitting 5.7 million. Average mortgage rates will average roughly 5.7 percent, he said. [AP via Yahoo Finance]
NAR economist forecasts home prices, resales will rise in 2010
November 13, 2009 02:58PM
November 13, 2009 at 3:22 pm, urbandigs said:
i guess if you keep on saying it, year after year after year, eventually you will be proven right
November 13, 2009 at 3:23 pm, Anonymous said:
Kind of like Nouriel Roubeini. Since 2004 he’s been crying about the end and when he was right after 4 years everyone is so impressed by him. Meanwhile, the market boomed exponentially in those 4 years.
November 16, 2009 at 4:36 pm, Anonymous said:
What can this guy say other than the market will catch up. These so called economists should be liable for what they say. Didn’t we all listened to guys like him. See where we ended up now after listening to all of them. They should be in jail.
November 13, 2009 at 8:42 pm, Anonymous said:
um NO
November 14, 2009 at 9:59 am, Anonymous said:
this is a joke. this guy studies a few numbers. what we all should learn is that economist are best equipped to advise us why things are happening, or have happened. As for forecasts it is all a gamble and although their opinions should be taken into account it really has no affect