National Association of Realtors says market on verge of stabilizing
Following nine consecutive months of downward revisions, the National Association of Realtors announced Monday that its newest monthly forecast is indeed a positive one, though several other groups are more pessimistic regarding the real estate market’s near future.
Forecast sales in 2008 are expected at approximately 5.7 million homes, following the 2007 year, when home sales fell to their lowest level since 2002, the first year in the post-9/11 era.
The forecast for pending sales for existing homes rose .6% from September, a small but important step in reversing the poor fortunes that have befallen the troubled housing economy in recent years. The median home sale price is also expected to increase just slightly in 2008, at a promising rate of .3%.
Job growth and improving mortgage availability are cited as two of the main reasons for the rosy predictions, though the presence of a recession would likely quash those high hopes.
In either case, this optimistic forecast should be noted as the market continues to turn around from its recent woes.
Related Articles
Haute Leaders Gather for an Elegant Brunch at Rose Café in Sunny Isles
Haute Living brought together an intimate circle of industry leaders and visionaries for a refined brunch at Rose Café in Sunny Isles, Florida. The sun-drenched gathering united beauty and real estate tastemakers for a morning of elevated conversation, warm hospitality, and Italian-inspired indulgence. Photo Credit: Alejandro Pazmino Rose Café provided the perfect backdrop, a chic, […]
Jagger Suite Ignites Atlanta: A Rooftop Oasis of Studio 54 Glamour and Unapologetic Luxury
Join the buzz around Jagger Suite Rooftop Bar as it opens in Atlanta, introducing a glamorous new destination for nightlife.
West Hollywood’s Most Committed Night Out Just Turned One
One year in, Zouk Los Angeles is still setting the pace for LA nightlife. Here’s why the Zouk Group and sbe’s West Hollywood collab remains the room everyone wants to be in.
These Women Are Disrupting the Spirits Industry — And Inspiring the Next Generation
Winemaker Ana Paula Bartolucci and mixologist Ines de los Santos discuss breaking barriers in the spirits industry, redefining the spritz, and inspiring the next generation of women in drinks.
GLOSSLAB Begins a Bold New Era With Elizabeth Woods and Jordyn Woods Leading Its Lifestyle Beauty Vision
GLOSSLAB enters a new era with Elizabeth Woods and Jordyn Woods, launching high-performance beauty essentials for modern lifestyles.
Sam Nazarian, Chef Dani García, and the Delicious Business of Redefining Luxury
Sam Nazarian and Michelin-starred Chef Dani García are joining forces to reshape what luxury hospitality looks and tastes like. Here’s how they’re doing it.
Latest Stories
Trending Articles
Related Articles
Haute Leaders Gather for an Elegant Brunch at Rose Café in Sunny Isles
Haute Living brought together an intimate circle of industry leaders and visionaries for a refined brunch at Rose Café in Sunny Isles, Florida. The sun-drenched gathering united beauty and real estate tastemakers for a morning of elevated conversation, warm hospitality, and Italian-inspired indulgence. Photo Credit: Alejandro Pazmino Rose Café provided the perfect backdrop, a chic, […]
Jagger Suite Ignites Atlanta: A Rooftop Oasis of Studio 54 Glamour and Unapologetic Luxury
Join the buzz around Jagger Suite Rooftop Bar as it opens in Atlanta, introducing a glamorous new destination for nightlife.
West Hollywood’s Most Committed Night Out Just Turned One
One year in, Zouk Los Angeles is still setting the pace for LA nightlife. Here’s why the Zouk Group and sbe’s West Hollywood collab remains the room everyone wants to be in.
These Women Are Disrupting the Spirits Industry — And Inspiring the Next Generation
Winemaker Ana Paula Bartolucci and mixologist Ines de los Santos discuss breaking barriers in the spirits industry, redefining the spritz, and inspiring the next generation of women in drinks.
GLOSSLAB Begins a Bold New Era With Elizabeth Woods and Jordyn Woods Leading Its Lifestyle Beauty Vision
GLOSSLAB enters a new era with Elizabeth Woods and Jordyn Woods, launching high-performance beauty essentials for modern lifestyles.
Sam Nazarian, Chef Dani García, and the Delicious Business of Redefining Luxury
Sam Nazarian and Michelin-starred Chef Dani García are joining forces to reshape what luxury hospitality looks and tastes like. Here’s how they’re doing it.
Subscribe to Haute Living
Receive Our Magazine Directly at Your Doorstep
Embark on a journey of luxury and elegance with Haute Living magazine. Subscribe now and have every issue conveniently delivered to your home. Experience the pinnacle of lifestyle, culture, and sophistication through our pages.
Haute Black Membership
Your Gateway to Extraordinary Experiences
Join Haute Black and unlock access to the world's most prestigious luxury events