GARYANDLANA

The five-year boom in existing and new housing sales in many U.S. housing markets is expected to cool in 2006 but final results should still be second best in history, according to projections by top industry economists. National average home price appreciation is also expected to slow from an unsustainable rate of 12.7% this year to about 5.0% next year.

Existing home sales, increasing 4.8% this year to a record 7.11 million, are projected to decline 3.5% to 6.86 million in 2006. New home sales will increase 8.0% to 1.3 million this year and are expected to decline 4.6% to 1.97 million next year. (more…)

The nation’s inventory of unsold homes – an important component of a more balanced housing market in the second half of 2005 – is growing steadily in many areas of the country even though buyer demand continues strong, according to the latest HouseHunt, Inc., quarterly “Current Market Conditions” survey. The percentage of member real estate agents reporting plentiful vs. limited supplies increased from 33% in the first quarter to 38% in April, May and June.

Exceptions would be South Florida, Arizona, Southern California and certain other housing and job growth hot spots.
(more…)

• exotic car rental miami