Hopeful Outlook On Economy And Housing

According to the National Association of Realtors, housing and the economy are headed on for a positive sustainable recovery. Credit for this outlook goes to the Homebuyer Tax Credit which is working better than expected says Nar Chief economist Lawerence Yun.

Existing home sales in 2009 are also expected to rise to a total of 5.01 million which would be a gain of 2% from 2008 and then to rise to 13.6 percent to 5.69 million in 2010. New Home sales are expected to reach 397,000 this year, and then up  to 549,000 in 2010.

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