Market Shows Signs of Strong Outlook

The real estate market, as well as the overall economy, continues to show signs of a strong outlook. Just this week we learned that:

·          The National Association of Realtors’ chief economist, David Lereah, forecast 2007 to be the fourth highest year ever for existing-home sales.

·          A recent Los Angeles Times/Bloomberg poll found that 84% of Americans are convinced that home values in their own neighborhood will hold steady or increase in the next six months.

·          The Associated Press reported that recent stock price increases have decreased the likelihood that the Federal Reserve will raise rates.