Submit Feedback
Member Login
Blogs Homepage
Featured Entries
Recent Entries
Recent Comments
Tags
My Starred Entries
Create A Blog
RSS FeedPRICES CORRECTING, BUYERS RETURNING TO MARKET |
Oct. 12, 2006
Categorized in: About Las Vegas & Real Estate
Tagged with: home prices, las vegas
- Home sales appear to be bottoming out with lower home prices attracting buyers in many areas of the country, according to NAR. Existing-home sales are forecast to be fairly stable in the fourth quarter and sales for all of 2006 are expected to drop 8.9% to 6.45 million--still the third strongest year after consecutive records in 2004 and 2005. New-home sales are forecast to fall 17.3% this year to 1.06 million, the fourth highest year on record. Housing starts should be down 10.9% to 1.84 million in 2006. "Many potential home buyers who have been taking a wait-and-see attitude or taking their time and being methodical in the search process are being enticed by lower home prices," said David Lereah, NAR's chief economist. "Given a positive economic backdrop of lower interest rates and job creation, we expect sales activity to pick up early next year." (Source: NAR) Full Story . . .
Word of the Day
Ask the Experts
Question of the Day
Member Login
Join RealTown
Request Password
RealTown RSS Feed