Will Homes Sales Rise This Year?

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.

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