Mid-Year Real Estate Outlook
Posted by ERA Landmark Real Estate on
With 2014 unbelievably more than halfway over already, it’s an opportune time to see how the real estate market has fared and to try to predict with some accuracy where it might be headed for the remainder of the year. Official National Association of Realtors (NAR) mid-year figures were just published to gauge activity for 2014 thus far. Nationwide, total existing home sales (including single-family homes, townhomes, condos, and co-ops) had a 2.6% sales gain in June over May of this year, though the total number of sales was 2.3% below the numbers in June of 2013. In June, Lawrence Yun, NAR chief economist, attributed the increasing sales to “slower price growth due to the much-needed, rising inventory levels….improving job market…decline in mortgage…
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