According to Lawrence Yun, the National Association of Realtors’ chief economist, home sales are on pace to exceed last year’s levels. Yun believes sustained economic growth, a gradually improving job market, and historically high housing affordability will boost sales nearly 10 percent higher than last year, when the homebuyer tax credit stimulated buying activity. NAR’s affordability index is higher than it has ever been and Yun expects affordability to be a key factor, along with low mortgage rates, in improving this year’s sales performance. More here.
