The National Association of Realtors predicts strong home sales in 2005
The NAR is predicting the following for the 2005 housing market:
"Home sales will be down from the high-water marks set in 2004 but are expected see the second-best year on record in 2005, according to the NATIONAL ASSOCIATION OF REALTORS®.
"Existing-home sales are forecast to decline 2.0 percent to a total of 6.54 million in 2005 from a record 6.68 million last year. New-home sales are projected at 1.11 million this year, down 6.2 percent from a record 1.18 million in 2004. Housing starts are seen at 1.92 million units this year, a decline of 1.8 percent from 1.95 million 2004, which was the highest level of housing construction since 1978."
We will have to revisit this at the close of the year and see how their prediction goes!
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