After an up-and-down year which saw sales, and optimism, surge in the spring only to suffer setbacks in the fall, realtors, brokers and others on the residential side of the market are showing guarded optimism for 2011 according to Banker & Tradesman Realtor survey. Here are more detailed results from what we reported yesterday.
Overall economic outlook:
60% of Realtors expect moderate improvement.
22% forecast the economic climate to be the same.
15% fear it will decline.
45% of respondents predict a moderate increase,
38% expect about the same as last year.
17% leaning towards a decline in single-family home sales.
44% forecast an increase in multi-family home sales.
40% about the same as last year.
16% leaning towards a decline in home sales.
28% forecast a modest increase in condominium sales.
50% predict it will remain the same.
22% lean towards a decline.