Housing Market Recovery Expected To Continue with Increasing Home Prices As Long As….

Saint Louis Realtor, Dennis Normanst-louis-real-estate-realtor-dennis-normanLawrence Yun, chief economist of the National Association of Realtors (NAR), while speaking at the NAR convention in Orlando gave a pretty optimistic outlook for the housing market.  Yun said he expects to see home prices rise cumulatively 15 percent over the next three years, home sales increase over 20 percent during the same period and new home sales to increase over 90 percent from 2011 to the beginning of 2014.  Yun did add a caveat to his optimism saying these things assumed there would be no further limitations on the availability of mortgage credit or a “fiscal cliff”.  At this point I don’t know that I would be betting against a fiscal cliff, so I guess we will just have to wait and see.

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