Merry Christmas and Happy New Year!
Our National Association of Realtors chief economist, Lawrence Yun, predicts that 2011 will experience a moderate gain in home sales. He forecasts that homes sales should settle in at 5.2 million up slightly from 4.1 million in 2010. He goes on to say that new home sales should also be up to about 400,000 which is still an increase from the 316,000 in 2010. This is good news for builders and all those associated with the building trades.
It is down significantly from the 2 million housing starts we saw in 2005, however. He does feel that there will be another stimulus bill enacted in 2011 at about 900 billion, which should see the GDP grow by 3% up from 1.9% and job creation could easily top 2.5 million. He feels that even though these upstarts are predicated on what the Government does to Read the rest of this entry »