Realtors Group Sees U.S. Home Sales Near Peak

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00003030-realtors-group-sees-us-home-sales-near-pe/

U.S. home sales are close to peaking but should hold historically high levels into next year, the National Association of Realtors’ top economist said on Tuesday.

Chief Economist David Lereah, in a monthly forecast, nudged his estimates higher for sales of previously owned and new homes in 2005.

He said existing home sales should rise 2.9 percent to 6.98 million this year, up from his previous forecast of 6.97 million and higher than the 2004 record of 6.78 million.

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Realtors Group Sees U.S. Home Sales Near Peak

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