The information in this infographic comes from a video of NAR Chief Economist Lawrence Yun talking about his 2015 housing market expectations. He expects existing-home sales to rise about 7 percent in 2015 behind a strengthening economy, solid job gains and a healthy increase in home prices.
Watch the video of Lawrence Yun’s forecast.
Read the news release about Lawrence Yun’s forecast.
From the National Association of Realtors:
For the second consecutive month, existing-home sales were on the rise in October, now above year-over-year levels for the first time in 12 months, according to the National Association of REALTORS®’ latest housing report.
Existing-home sales rose 1.5 percent to a seasonally adjusted annual rate of 5.26 million in October. Sales now are at their highest annual pace since September 2013.
“Buyers continue to be encouraged by interest rates at lows not seen since last summer, improving levels of inventory, and stabilizing price growth,” says Lawrence Yun, NAR’s chief economist. “Furthermore, the job market has shown continued strength in the past six months. This bodes well for solid demand to close out the year and the likelihood of additional months of year-over-year sales increases.”
Read the entire article here.
Work has begun on the Spring District, a 36 acre mixed-use urban neighborhood. The 16 city blocks near the intersection of SR 520 and I-405 will ultimately feature commercial, residential and retail including hotels, restaurants and shops.
The $2.3 billion project is one of the largest urban development projects on the West Coast. Work is being done in phases, with the eastern and southernmost blocks developed in Phase One, including office and residential buildings as well as the central park space. Development will eventually move north towards the future East Link rail station.