A sluggish, steady revival is predicted for the US residential real estate market in spite of ongoing challenges, according to an update from the National Association of Realtors.
NAR chief economist Lawrence Yun to the 2010 Realtors Conference and Expo that he expects a continuing development of underlying basics of the current market in the pending years.
Overall real estate experts are watchfully optimistic about the current and potential state of the commerce. Panelist Margaret Kelly, chief supervisory officer of RE/MAX, said today’s market shouldn’t be called the new normal since the old market was abnormal. ‘The spike up and downward in the housing market wasn’t normal so we shouldn’t be measure ourselves against it,’ she said.
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