Realtors see 4% rise in home prices in ’10
SAN DIEGO – Home prices are expected to grow modestly next year and sales will keep rising as the housing market continues to recover from the worst downturn since the Great Depression, the National Association of Realtors said Friday.
Home resales are projected to total 5.7 million next year, up from an estimated 5 million this year. Prices will climb about 4 percent after a projected decline of 13 percent this year, according to Lawrence Yun, chief economist for the trade association.
“Going into 2010, I anticipate that prices will also begin stabilizing or begin to modestly improve,” Yun told the audience at the association’s annual conference and expo in San Diego.
Buyers can claim the $8000 tax credit if they sign a contract by April 30, 2010 and close the deal by the end of June. Lawmakers also expanded the program to include a $6,500 credit for existing homeowners who have lived in their current residence for at least five years
