NAR DAILY REAL ESTATE NEWS | FRIDAY, MAY 16, 2014
Two years into the economic recovery, residential home sales are struggling. But because of demographic and other trends, long-term growth prospects remain good, NAR Chief Economist Lawrence Yun said Thursday at the REALTOR® Party Convention & Trade Expo in Washington, DC.
At the Residential Economic Issues & Trends Forum, Yun forecast 4.9 million existing-home sales this year, a roughly 3 percent drop from last year and a signal that the recovery in home sales that started two years ago is flagging. In eastern Connecticut, however, sales of single family hones during the first quarter has risen 3.7% from the previous year. More…
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