The National Association of Realtors (NAR) 2007 Predictions

• Sales
• Predicted = 6.4 million
• Actual = 5.65 million
• Predicted Growth = -1.2%
• Actual Growth = -12.8%
• Variance = 11.5%
• Volume
• Predicted = $1.7 trillion
• Actual = $1.5 trillion
• Predicted Growth = 0.3%
• Actual Growth = -13.5%
• Variance = 13.8%
• Price
• Predicted = $225,229
• Actual = $218,900
• Predicted Growth = 1.5%
• Actual Growth = -1.4%
• Variance = 2.9%

In 2007 NAR was -

• Too optimistic when they think the market is going down
• Too pessimistic when they think the market is going up

NAR’s 2008 Prediction

• Sales will increase by 0.7% to 5.69 million transactions
• Up from 5.65 million in 2007
• Down from 6.5 million in 2006
• Prices to hold even in 2008
• Unchanged from $218,900 in 2007
• Down from $221,900 in 2006

 These predictions are based on existing homes. Remember 2007:

• Too optimistic when they think the market is going down.
• Too pessimistic when they think the market is going up.

2007 Real Estate 2008

• Part 1
• Part 2
• Part 3
• Part 4
• Part 5
• Part 6

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