Why Home Sales Will Rise This Year


Realtor Magazine
By Lawrence Yun | June 2011
Chief Economist-National Association of Realtors

The first quarter ended with decent home sales activity… but the rest of the year should be even better. Here’s why.

The first quarter ended with decent home sales activity, with existing homes selling at an annualized pace of 5.1 million. The remainder of the year should be better still for the following reasons:

•More jobs
•Rising stock market wealth
•Rising apartment rents
•Continuing high affordability conditions
•Home values at historically justifiable levels
•Investors looking to hedge against inflation
•Foreigners buying U.S. homes on the cheap

Other potential contributing factors, although they’re not happening yet, are huge bank profits translating into more desire to lend and some reduction to market friction as lenders’ short sale approval processes improve and appraisals become less of an issue.

So, if existing-home sales either hold at the 5.1 mil­lion pace of the first quarter or improve on that, then the annual sales tally will easily exceed the 4.9 mil-lion home sales we saw last year.

LINK TO WAILEA HOMES FOR SALE

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EcoBroker, Realtor(S) Meghan Clair of Coldwell Banker-Wailea Shops Office specializes in assisting Buyers find THE BEST South Maui Oceanfront and Luxury Investments.

She is pleased to represent you as a Buyer’s Agent on any unique Maui home or condo.

Meghan Clair
Realtor (S), EcoBroker
MauiGreenRealtor@Gmail.com
(808) 463-8485 Direct Phone
(808) 874-8668 Office Phone
Coldwell Banker Island Properties-Shops at Wailea

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