On Tuesday January 12, 2010 I attended the NVBR meeting at the Shearton in Burlington, Vermont to listen to chief economist, Lawrence Yun speak about the future of the housing market.I have provided you with three choices. You can either read my TOP FIVE points that I gathered, listen to a video of Lawrence Yun speaking directly where he summarizes these points, or view the Graphs he used that apply directly to his presentation.
Top Five points I gathered from Lawrence Yun presentation on Tuesday January 12, 2010:
1. Price declines are over
2. Inventory is falling meaning we are approaching a more balanced market (balanced market is a six month supply of inventory)
3. We will begin to see an increase in jobs in the next quarter
4. Tax credit is working with 2 million 1st time home buyers potentially claiming credit to date and an expected additional 2.4 million buyers taking advantage of tax credit by the end of June 2010 so that existing home sales will get a 15% boost and home prices will get a 3%-5% boost.
5. Interest rates will rise in the spring perhaps 6%-7% so people should take advantage of the lower rates now allowing them to save more monthly on their mortgage.
Feel free to email me at moniqueb@hickokandboardman.com
with any questions or comments you may have
Picture of Lawrence Yun taken from sarastoarealtors.com
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