NAR Believes Market Is Stabilizing
The National Association of REALTORS® (NAR), a trade organization representing the real estate industry, predicts existing-home sales will stabilize in 2008; however, the recovery for new-home sales will have to wait until 2009.
"The Pending Home Sales Index, a forward-looking indicator based on contracts signed in October, increased 0.6 percent to an index of 87.2 from an upwardly revised reading of 86.7 in September. It was the second consecutive monthly gain, but remained 18.4 percent below the October 2006 index of 106.8"
Read A Boston Globe Article About NAR Prediction
Do you believe the real estate market is stabilizing?
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