2011 Real Estate Predictions
A New Year in Real Estate: 2011 Predictions
Are you ready for a new year in real estate? The National Association of REALTORS ® is ready and prepared to predict a more positive year in real estate.
Existing-home sales are projected to rise about 8% to 5.2 million in 2011 from 4.8 million in 2010, with an additional gain of 4% in 2012. The median existing-home price could rise 0.6% to $173,700 in 2011 from $172,700 in 2010, which was essentially unchanged from 2009.
“As we gradually work off the excess housing inventory, supply levels will eventually come more in-line with historic averages, and could allow home prices to rise modestly in the range of 2 to 3 percent in 2012,” Yun said.
New-home sales are estimated to rise 24% to 392,000 in 2011, but would remain well below historic averages, while housing starts are forecast to rise 21% to 716,000.
Janie Gervasi
Re/Max Accord
(925) 944-6314 (O)
(925) 348-2250 (C)
License #01166170
"The difference is in the details"
