So it may be a little corny but this morning at our first Managers’ Meeting of 2007, we had a small glare problem that was easily fixed with some shades for all. We couldn’t help but say “The future is so bright we have to wear shades.”
In fact, David Lereah, NAR’s chief economist, said annual totals for existing-home sales will be fairly comparable between 2006 and 2007. “We have to keep in mind that we were still in boom conditions during the first quarter of 2006 with a high sales volume and double-digit price appreciation,” he said. “We are starting 2007 from a relatively low point, so even with a gradual improvement in sales it’ll be pretty much of a wash in terms of annual totals. The good news is that the steady improvement in sales will support price appreciation moving forward.”
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