Today I attend a conference regarding the housing economy. One of our speakers was Lawerence Yun, the chief economist for the National Association of Realtors, according to him, he predicts home sales to increase by at least 15% in 2010.
He also predicts home prices to appreciate by about 3 to 5% from where the prices are at today. This is good news for sellers who want to sell their home or property next year in the Ashland and Medford area.
Three to 5 percent is a normal home appreciation since it matches normal inflation.Right now the overall housing inventory is at about 8 months which is down from last year, but not quite to normal at a 6 months supply as he is predicting for 2010.
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