In its new housing outlook report, The Concord Group, a real estate strategy firm based in Newport Beach, Calif., predicted that national home sales will recover by the fourth quarter of 2010, with some well positioned markets improving by late 2011 or early 2012.
"The Concord Group estimates sales for the next year will continue at current sluggish levels (400,000 units), with a recovery rate of approximately 640,000 units annually in the following year’s first half until the market returns to normalized absorption rates by the fourth quarter of 2012," the report says.
The company's housing demand model incorporates published employment forecasts, structural household growth, turnover, and obsolescence. "Development of quality new housing in core employment centers is expected to be an opportunity," the company says in a statement. "Meeting the needs of baby boomers, highlighted by their transition to urban areas, should remain a focus."
In many areas of Mercer County, prices are already rising and sales have certainly increased. Call or email me for some ideas on getting a good buy.
Joe Giancarli, SA
Short Sale Specialist
Real Estate Advisor
609-658-2612
jgiancarli@remax.net
http://www.joegiancarli.com/
http://www.njhomesource.com/
http://www.newjerseynewhomes.blogspot.com/
Source: The Concord Group
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