Friday, May 12, 2006

Strong Housing Market to Continue According to NAR

The National Association of Realtors anticipates the U.S. housing market to experience its third best year in 2006, despite rising interest rates. "Coming off a prolonged period of record sales, housing is taking something of a breather this year," said NAR Chief Economist David Lereah. "Even so, interest rates remain historically low, we've added about 2 million jobs over the last 12 months, and the economy continues to grow -- that will sustain healthy levels of home sales in 2006, but they'll stay below the peaks experienced during the last two years."

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