The following is an article by Colleen Sullivan a staff writer for Banker & Tradesman:
Caution is the byword for 2010, with professionals across the residential real estate industry expressing only mild hopes for improvement in the markets this year, according to a recent Banker & Tradesman/Bannon & Co. reader survey.
Single-family homes are the bright spot in the residential sales outlook, with 57 percent of respondents forecasting a modest increase in sales. Readers’ expectations for condominiums and multi-family units were more subdued, with about a third of respondents expecting a modest increase in sales, while 41 percent of readers thought condo sales would remain about the same as 2009. Regarding multi-family sales, less than half (47 percent) felt they would remain roughly the same as last year.
What are your thoughts? Do you agree with the Banker & Tradesman survey?