We Value Bloomington-Normal

Unusual weather patterns and problems in the subprime lending marketplace are creating challenges in assessing housing market conditions, according to the latest NAR forecast.

Said NAR chief economist David Lereah: “Underlying trends point to a housing recovery in 2007, but it will take a couple months for us to get a better handle on it.

Existing-home sales are expected to slowly improve from what appears to be the cyclical low last fall.” Read the full forecast.