<%@LANGUAGE="JAVASCRIPT" CODEPAGE="1252"%> The Housing Recovery - Predictions from the National Association of Realtors
 

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On July 8th the National Association of Realtors released its forecast for existing home sales. According to NAR, sales of existing homes are expected to "vary in a narrow range and then rise in the second half."

Wow! What a straightforward prediction from NAR! NAR uses its Pending Home Sales Index to predict that the bottom has occurred in the real estate market and that a recovery, albeit a muted one, should now be underway.

If NAR's prediction is correct that means we are now experiencing that muted recovery. The sales growth rate for existing homes in 2009 is expected to be approximately five percent. The median price for existing homes is expected to rise by 4.3 percent in 2009 as well.

Buyers who have been waiting for prices to bottom may in fact miss out if they do not act quickly if the NAR predictions are correct!

Meanwhile new home sales are expected to fall a whopping thirty-two percent this year and continue to fall in 2009, which bucks against their May prediction that new home sales would recover in 2009. However NAR is still predicting a small price increase in New Home Sales in 2009.

Mortgage rates are expected to begin to rise in the fourth quarter of this year.

Overall the report from NAR is encouraging as Realtor's have been hoping for a bottom for quite some time now. The signs of activity can certainly be seen at the Tomlinson North Idaho Sotheby's office in beautiful Coeur d'Alene, Idaho. If you are feeling the itch to sell then now may be the perfect time - before everyone else figures out that the bottom may indeed be "in."

Or see the report specific to North Idaho Real Estate here.

Tomlinson North Idaho Sotheby's International Realty knows North Idaho like no other agency! You may also request your free copy of our unique homes and land magazine for North Idaho to be delivered via U.S. Postal Service mail. Just make the request in the comments section on our Real Estate Request Form!

When only the best will do the answer is clear - Sotheby's International Realty

Information obtained from the National Association of Realtors and is deemed accurate but not guaranteed.

Tomlinson North Idaho Unique Home

A Unique Property from Tomlinson

Coeur d'Alene Idaho is located in beautiful Kootenai County and is a wonderful place to retire! Kootenai County has a 2006 listed population of 131,507. Six year population growth was approximately twenty-one percent.

About thirteen and a half percent of the people are 65 or older.

The year 2000 home ownership rate was almost seventy-five percent. The 2004 median household income was $41,308 and over $11,000 is spent each year on retail sales, per capita.

This demographic info is provided by the US Census Bureau and is believed to be accurate but is not guaranteed.

Contact us today to find out more about retiring to North Idaho or get a Competitive Market Analysis and list your home with Tomlinson Sotheby's today!

 
Call Realtor Ron at (208) 666-6264  

 

 

 

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Each Office Is Independently Owned And Operated. Equal Housing Opportunity. Some information on North Idaho Real Estate is provided by CAR MLS. Information deemed to be reliable but is not guaranteed.