CAR Economist: Housing Sales & Prices Up 2% in 2011

The California Association of Realtors 2011 forecast housing prices to increase 2% and sales to increase 2% in the year ahead. They say the impact of REOs moving forward will be to increase unsold inventory from 6.5 months to 8 months which they say is “well below peak levels that would trigger a significant decline in prices”. Th full text of the article can be seen here.