By Gino Blefari, President & CEO, Intero Real Estate Services, Inc.
Now is the season when we start hearing a lot of predictions for the housing market in 2014. So what’s the prognosis?
I was at the National Association of Realtors conference in San Francisco last week and the group’s Chief Economist Lawrence Yundropped some numbers to paint a picture of what he expects going into next year.
So far, Yun is expecting a flat pace of sales – not a huge jump or a decline – and a 6% increase in prices. He’s also expecting interest rates to climb from their current average of 4.16% to 5.4% by the end of 2014.
