The National Association of REALTORs put out some optimistic housing projections

The National Association of REALTORs gets optimistic

Filed Under NAR, economy |

The National Association of REALTORS issued a press release yesterday, and according to them, things don’t look so bad.Most people associated with the real estate industry know that the NAR is usually more optimistic than the media, which rarely has anything positive to say about anything, so you should take that into consideration before reading the release. Any association made up of REALTORS will obviously have an interest in talking up the business of its members. You can’t blame them, but it does shed a different light on why they say what they do. Also keep in mind that these are projections, not guarantees.

That said, the NAR says that existing home sales will actually trend upward in 2008. They admit that the Pending Home Sales Index still shows lower numbers than last year at this time, but that it’s inching upward. New home sales don’t look as promising, and the NAR projects that recovery won’t start until 2009. Even so, that’s sooner than some people are projecting.

I’m not much into rehashing number number after number, so you can follow the link on your own and read it for yourself. And it’s perfectly ok if your mind starts wandering after a few paragraphs - it’s pretty boring stuff.

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