Predictions Improve for Louisville Housing in ‘08
December 12th, 2007 by Tre Pryor, Editor-in-ChiefFound this little piece of news that points to better times ahead in the coming year.
Realtors Group Sees Slight ‘08 Rebound
Bucking conventional wisdom, a trade group for real estate agents said yesterday the battered housing market is on the verge of stabilizing and inched-up its outlook for 2008 home sales. The revised monthly forecast from the National Association of Realtors, which followed nine straight months of downward revisions, forecasts sales will rise slightly in 2008 to 5.7 million, up from last month’s prediction of 5.69 million. The group also said the median price for U.S. existing homes will sink by 1.9 percent to $217,600 this year and rise 0.3 percent next year to $218,300. If median prices do fall this year, it will be the first price decline in the nearly 40 years that the trade group has tracked that data. [link]