- 4.4 million households are eligible for tax credit. First time and move up home buyers must purchase by April 30, 2010 (with closing by June 30, 2010).
- Home Sales Increase: Home sales keep increasing now for the 9th straight month. This tax credit expected to boost sales by 20% the first half of 2010.
- Home Price Rise: Median home prices could rise 2 to 4 percent.
- New Home Sales Rise: New homes sales could rise to 50%, but not same frequent pace as 2005.
- Interest Rate Rise: Interest rates expect to be 5%-5.5% and continue to rise as Feds purchasing of money back securities will end in March.
- Unemployment Rate: First half of the year will be slightly over 10% before inching down. There is evidence of fewer layoffs.
Thursday, December 17, 2009
Real Estate Forecast for 2010
National Association of Realtor (NAR) Forecast Predication for the US Real Estate Market for 2010.