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Sales expected to rise this year compared to 2009

J. Andrew English J. Andrew English

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.

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