(Source: USA Today)
Home prices are expected to grow modestly next year and sales will keep rising as the housing market continues to recover from the worst downturn since the Great Depression, the National Association of Realtors said Friday.
Home resales are projected to total 5.7 million next year, up from an estimated 5 million this year. Prices will climb about 4% after a projected decline of 13% this year, according to Lawrence Yun, chief economist for the trade association.
“Going into 2010, I anticipate that prices will also begin stabilizing or begin to modestly improve,” Yun told the audience at the association’s annual conference and expo in San Diego.
That should help ease buyers’ anxiety. “I don’t think the fear factor will be at play in 2010,” Yun said.
Read Alex Veiga’s full article “Realtor group says home prices to rise 4% in 2010” in the USA Today (November 15, 2009).