[Homestead] Home appreciation forecast at 6.4 percent for 2006
genegerue at ruralize.com
Thu Apr 13 11:18:37 EDT 2006
NAR President Thomas M. Stevens from Vienna, Va.,
said home prices are expected to cool, but not as
much as in earlier projections. Although housing
inventories have been improving, the balance is
still a bit more favorable for sellers and annual
appreciation remains in double-digit territory,
said Stevens, senior vice president of NRT Inc.
Even so, the market is in a process of
normalization appreciation will return to
normal single-digit patterns, providing solid
investment returns into the future.
The national median existing-home price for all
housing types is likely to increase 6.4 percent
this year to $221,700, while the median new-home
price is expected to rise 2.3 percent to $242,700.
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