Today's real estate industry news headline was positive. Hope Up for Home Sales in 2008. Despite the positive headline carried by the Albuquerque Journal's, Associated Press, the article was hesitant to accept the positive outlook of the report of the National Association of Realtors (NAR).
In concluding, the writer feels compelled to say, Many economists are much more pessimistic about the housing market and are predicting far lower home sales [than precicted by NAR].
Official year-end results are not yet available for the housing market of either New Mexico or the country at large. Despite current similarities, one must bear in mind that every market is different, based on local trends that drive each market.
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