The National Association of Realtors (NAR) offered up its predictions on housing as the market deals with the effects of low inventory.
At the Realtors Midyear Legislative Meetings & Trade Expo, NAR’s chief economist Lawrence Yun projected further increases in existing-home sales.
According to a release, Yun expects existing-home sales to increase to nearly 5 million this year, then grow to an annual rate of 5.3 million sales in 2014, and rise up to 5.7 million in 2015.
Dramatic price increases are also expected to continue this year.
Read more...NAR Speculates on Future of Housing at Realtor Expo
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