NAR chief economist Lawrence Yun says he expects the market share of distressed sales to fall from about 25 percent in 2012 to 8 percent in 2014, according to a release on the forum.
Mark Vitner, managing director and senior economist at Wells Fargo, was one of the speakers at the NAR forum. Vitner compared distressed homes to an after-Christmas sale stating, “most of the best stuff has been picked over, but make no mistake they’ll be with us for a while.”
The housing recovery was expected to continue so long as credit does not further tighten and a fiscal cliff is avoided. Mortgage Rates and Housing Market projected for 2013....
No comments:
Post a Comment