Market Predictions for 2007

By: Mary Clare Glover

George Mason University's Center for Regional Analysis, one of the area's most respected resources for economic and housing data, just released its annual Housing Market Forecast for the Washington area. 

Here are a few of the report's predictions for 2007:

• The market adjustment that we saw in 2006 is nearing an end—inventory is stabilizing and prices will begin stabilizing

• Housing demand will increase this spring 

• Sales volume will drop back to 1998-1999 levels

In addition to the forecast for 2007, the report is full of cool historical stats and graphs.  I've posted a few of my favorites below—check out the full report to see the rest.