Archive for the 'Charlotte NC Market Reports' Category
February 8th, 2010
National and Charlotte NC Real Estate 2010 Forecast
National and Charlotte NC Real Estate Forecast for 2010
Housing Market Charlotte NC
CNBC’s Realty Check predicts:
• The beginning of a housing market recovery mid-year
• Higher foreclosure inventory
• Rising mortgage rates, probably leveling off around six percent.
• Suffering commercial real estate
The National Association of Realtors’® (NAR) chief economist is projecting:
• A sustainable recovery. The tax credit expansion will help to relieve extra housing supply through mid-2010.
• A rise in existing home sales. The NAR is expecting existing home sales to rise as high as 5.69 million, even with continuing unemployment issues. That’s a 13.6 percent increase.
In fact, the U.S. forecasts for national and Charlotte NC real estate are overall positive for 2010.
Housing Predictor, one of the first places to predict the wave of foreclosures, also forecasts positive numbers for 2010. They anticipate:
• Rising home sales
• Market improvement
• Even value appreciation for some areas.
Again, the magic period for the beginning of stabilization seems to be the beginning of Q3 and these are only projections. Although no one knows for certain what will happen in the future – especially for such struggling sectors nationally (and even in some areas of Charlotte) – we can all gain a little hope from these 2010 forecasts. There is one thing that is fairly well agreed upon according to these predictions: there will be a real estate recovery in 2010.
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