David Lereah, Chief Economist for the National Association of REALTORS, is looking for a steady rise in existing-home sales. Mr. Lereah stated this past week, “after reaching what appears to be the bottom of the fourth quarter of 2006, we expect existing-home sales to gradually rise all this year and well into 2008. New-home sales should continue to slide, but we look for that sector to turn around later in the year. When you put it all together, home sales may appear weak in comparison with the record surge in 2005, but they will be sustained at historically high levels that are in line with long-term demand.”

For more information on current housing trends you can visit www.realtor.org.