The NAR Predicts a Positive Residential Forecast

The National Association of Realtors (NAR) recently released some positive predictions for existing home sales, suggesting that these sales will see a slight uptick as a greater number of millennials become homeowners.

According to the NAR’s chief economist, existing home sales should be ending the year at a pace of roughly 5.36 million, the best numbers in ten years. Next year, sales are anticipated to grow by about two percent to an average of 5.46 million and they should be increasing even more the following year to 5.68 million.

The country’s median price for existing home sales is also expected to grow to about four percent this year as well as in 2017. An expanding economy, continued job growth, and mortgage rates that remain below four percent have all contributed towards boosting interest in purchasing a home.

As for housing starts, they are also expected to jump just over five percent to 1.22 million.

This update is brought to you by Michael Internoscia, Principal Broker and CEO of hard money lenders Florida company M & M Private Lending Group. We have over three decades of experience specializing in private money real estate loans and we pride ourselves on providing our esteemed clients a service that’s personalized while delivering low rates and closing costs. We also offer mortgage note investments and have worked extensively with brokers and affiliates. Call 305-363-7169 or 954-445-4434 to speak with a lending representative about our Florida private loans or visit our website at https://mmprivatelending.com to fill out an application form.

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