Signs for Improvement of Housing market by Fourth Quarter
"I think this article has merit...Makes sense!" Laura McDaniel, Realtor
The Signs Align
BY LAWRENCE YUN, NAR SENIOR ECONOMIST
Predictions are always risky, but I’m going out on a limb to say existing-home sales will improve markedly by the fourth quarter. Here’s why:
Pent-up demand. The country has added nearly 4 million jobs since home sales started cooling in mid-2005, and the typical worker’s wages have risen 7 percent, leading to a $1.35 trillion rise in aggregate national income. At the same time, wealth has grown significantly, with the Dow Jones Industrial Average hovering at record highs. Indeed, accumulated household wealth as of the first quarter was at a record $56.2 trillion. So, if you’re wondering if people have the means to purchase, they do.
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