Housing Forecast

QUOTE OF THE WEEK… “Most people never run far enough on their first wind to find out they’ve got a second.” –William James, American philosopher and psychologist

INFO THAT HITS US WHERE WE LIVE… The housing market sure seems to be getting a second wind. The latest forecast from the National Association of Realtors predicts a 9.5% gain in existing home sales in 2012 and a 6.9% boost in 2013, to almost 5 million units. New home sales are projected to jump 29% this year and 62% (!!) in 2013, to 629,000 units. Median prices for existing homes should be UP 3% in 2012 and UP 5.7% in 2013. New home median prices are expected UP 4% this year and UP 4.6% in 2013.

Courtesy of Nicole Walker, Sterling Bank

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