May 23, 2007

NAR Lowers Sales Predictions

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NAR Lowers Sales Predictions

 

The National Association of Realtors has lowered its expectations for the housing market this year to reflect stricter lending standards and the decline in mortgage originations to borrowers with poor credit.

 

The association said it expects existing-home sales of 6.29 million in 2007, lower than sales of 6.48 million in 2006, though it forecast a rebound to 6.49 million in 2008.

 

The association predicts the 30-year fixed-rate mortgage should edge up to 6.5 percent by the fourth quarter.

 

 

Suffolk County is one of 62 counties in New York. The county is in the New York metro area. We can help you find real estate in any of these areas of Suffolk County: Babylon, Bellport, Centereach, Cold Spring Harbor, Commack, Dix Hills, Farmingdale, Farmingville, Greenlawn, Half Hollow Hills, Hauppague, Holbrook, Holtsville, Huntington, Islandia, Islip, Lake Grove, Lake Ronkonkoma, Lindenhurst, Melville, Oakdale, Patchogue, Sayville, and Smithtown. Just click the "Search for Suffolk County NY Homes" link at the top or bottom of this page.

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