Sales expected to rise this year compared to 2009
NAR is reporting that they still expect sales to rise in 2010 compared to 2009. Currently, an expected rise of 4.3% is anticipated. While this doesn’t match the original forecast of 6.5%, it does confirm recorded sales are up in most parts of the country.
NAR is forecasting home price increases to rise 2.5% this year and 3.7% in 2011.
Most importantly, NAR announced its pending home sales index rose 21% in April compared to last year. What does this tell us? A lot of offers were written prior to the tax credit expiration.