Home appreciation expected to increase
Campion Walsh has written an article on The Wall Street Journal Online that is of particular interest regarding the future real estate sales, appreciation and mortgage trends. Follow the link at the bottom to read the complete article.
U.S. home sales will decline less sharply this year than they did last year, while home-price appreciation is expected to gain steam, the National Association of Realtors said. In its latest forecast, the NAR said sales of existing homes are likely to decline about 1.2% this year to 6.42 million, following a sharp drop last year, while sales of new homes are seen falling about 9.7% to 957,000. Because the market is starting this year at a relatively low point, even a gradual recovery of sales during the year would mean that annual totals for 2007 are likely to show no substantial improvement, according to NAR Chief Economist David Lereah. “The good news is that the steady improvement in sales will support price appreciation moving forward,” Mr. Lereah says. More...
Our Naples real estate market is seeing signs of a bounce recently. January officially begins the start of our “season” when visitors from up north and part-time residents begin to fill our streets and restaurants. This time of year usually is the beginning of a real estate up swing and we are seeing that now in our open houses, viewings of our Featured Properties and our website hits. The community is encouraged by these signs and everyone is feeling positive. The sellers are starting to get offers again and the buyers are finding many good deals from which to choose. For more Naples real estate information visit our website.