Residential real estate professionals are undoubtedly among the most optimistic people on the planet. That is because people who sell homes for a living keenly understand the adage that “perception is reality.” Sales agents know that if consumers begin to believe home values are headed downward, that belief can weigh on the market – even if the view is mistaken.
During bumpy economic times, sensitivity to public perception leads real estate analysts to be measured in their assessments of market trends. And true to form, experts who presented short-term forecasts during a recent economic conference in New Orleans offered a conditionally hopeful view.
Lawrence Yun, chief economist for the National Association of Realtors, paints a fairly rosy picture as he points to indicators he believes show a recovery in home sales.
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