Homer Glen, IL. and S/W Chicago suburban real estate news and views.
NAR forecasts home prices to recover in 2008 with existing-home sales picking up late this year. In the National Association of REALTORS latest forecast, senior economist Lawrence Yun said a good buyers’ market has evolved. “Buyers now have an overwhelming advantage given the wide selection of homes available in many markets. But with profit margins coming under pressure, homebuilders will limit new construction well into 2008. This should help the overall inventory level to move steadily into a more balanced state.”
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