Montgomery AL Real Estate Predictions for 2008
The National Association of Realtors has published its predictions for the 2008 housing market, and there is finally good news to share! Most noteworthy is the trend toward improving existing home sales.
Lawrence Yun, senior NAR economist, said “Now that mortgage conditions have improved, some postponed activity should turn up in existing-home sales over the next couple of months, and I expect sales at fairly stable to slightly higher levels.”
Existing home sales are expected to rise to $5.7 million in 2008 – making it the fifth highest year on record. Existing home prices, which declined 1.9% to a median of $217,600 in 2007, are expected to go back up about .3% in 2008. As Yun noted late in 2007 “even with a modest decline in the national aggregate price this year, it’s important to keep in mind that nearly two-thirds of the metro areas in the US are showing price increases … the apparent disparity results from fewer sales in high-cost areas, so a change in the mix is dragging down the national median home price.”
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Happy new year, 
Although the real estate market is slow in many areas, you may still want or need to sell your home or purchase a new one due to circumstances such as a job relocation. 
Now that we’ve rolled our clocks back an hour and are beginning to adjust to the earlier onset of evening, our homes can seem darker than usual even during the daytime.
