The housing market has made a soft landing and will gradually pick up again over the next several months. That is the prognosis from the National Association of REALTORS economist David Lereah.
“Despite the doomsayers, household wealth will not evaporate and the economy will not go into a recession. If you’re in it for the long haul, housing is a sound investment,” Lereah said.
The national median existing-home price is expected to rise 1.9% to $226,200 in 2007, after rising 1.1% in 2006. The median new-home price is expected to increase 1.8% to $249,800 in 2007, and in 2008 existing-home prices are forecast to rise 3.4%.

This entry was posted on Monday, May 14th, 2007 at 7:00 am and is filed under Our Local Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.