Dr. Lawrence Yun, Chief Economist and Senior Vice President of the National Association of Realtors (NAR), recently spoke to Park City Realtors regarding he national housing trend. The overall theme was that the markets are stabilizing with some growth projected for 2012 and beyond. There are a number of factors contributing to the optimism.

• The last three years have had the Best Affordability in over 40 years
• The Price Index for homes shows that although the Consumer Price Index is up 160% since 1981, Monthly Mortgage Prices are the same as 1981 while Home Prices are up 219%.
• The annual U.S. Existing Home Sales have been flat for 4 years
• The Economist indicates that U.S. Home Prices are 22% undervalued compared to income
• Investors are looking for deals and are buying with cash
• There are several improving factors for Higher Home Sales including Job Creation, Stock Market Recovery, Rising Rents, Pent-Up Household Formation, and Smart Money Chasing Real Estate.
• Forecast is 4% Homes Sales Growth in 2012 and 6% in 2013 and 2014.
• People are seeking more help from Realtors that trying to sell themselves.

Now is a great time to consider buying real estate with the lowest interest rates in many years, prices stabilizing and growth projected.

For additional information on Park City Real Estate and all Park City Homes for Sale contact Jim and Billie Harsch with Mountain Town Realty Group at www.unlockparkcity.com

This entry was posted on Wednesday, February 22nd, 2012 at 7:47 am and is filed under About Park City, Business, News, Real Estate, Park City Real Estate, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.