Chief Economist Lawrence Yun for the National Association of Realtors predicted housing starts for new construction to surge 70 percent, or home prices to increase 10 percent, but not both. The Denver Post reported this on Sunday, June 23rd. This was a change from his earlier prediction that home prices would increase in 2012 from 3 to 5 percent. Supply simply hasn’t kept pace with demand this year. One reason for the shortage in supply is that many homeowners are under water with their mortgage or can’t get what they need to pay of their mortgage when they sell their home.
For more information call me at 720.203.9624 or look us up online at www.BevGrothProperties.com