Home Sales to Increase 15% in 2010
Earlier today NAR Chief Economist Lawrence Yun announced home sales will increase 15% to about 5.7 million units and Realtor income will be up 20% in 2010. Yun credited the first-time home buyer tax credit for bringing up to 400,000 first- time buyers into the market who wouldn’t have purchased otherwise. Now that the homebuyer tax credit has been extended and expanded, this cycle will continue.
Source: Robert Freedman, REALTOR® magazine http://www.realtor.org/RMODaily.nsf/pages/News2009111301?OpenDocument