Forecast for 2012

NAR publishes forecasts each month based on the inflow of updated economic data. Here are the latest take-aways regarding the outlook for next year:

  • No economic recession in sight. The GDP is expected to rise 2.5 percent in 2012. That is, the income of everyone combined in the U.S. will rise by 2.5 percent.
  • The net job creation is expected to be 1.5 to 2 million. The national unemployment rate will slide to 8.4 percent by this time next year.
  • The baseline forecast for existing home sales is a rise of 5 percent, while home prices will finally turn positive, albeit by only 2 percent. The total industry commission revenue, therefore, can be expected to rise by around 7 percent.
  • New home sales will rise by 16 percent. A stronger comeback is in the cards, after brutal declines during the housing bust years.

The detailed forecast can be found here >

Lawrence Yun, PhD., Chief Economist and Senior Vice President

Lawrence Yun is Chief Economist and Senior Vice President of Research at NAR. He directs research activity for the association and regularly provides commentary on real estate market trends for its 1 million REALTOR® members.

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