Palos Verdes homes owners certainly hope that is true. Lawrence Yun, chief economist of the National Association of Realtors, thinks home sales will rise this year. Here are his reasons:
- More jobs
- Rising stock market wealth
- Rising apartment rents
- Continuing high affordability conditions
- Home values at historically justifiable levels
- Investors looking to hedge against inflation
- Foreigners buying U.S. homes on the cheap
This real estate outlook is for number of sales not sales prices. Based on sales prices to date, I believe that prices for Palos Verdes real estate will continue to be fairly stable – plus or minus just a few points. Click here to read entire article by Lawrence Yun.
