A year ago, Inman News provided a list of real estate predictions for 2004. Here's how we did: (Click here to see Inman News' 2005 Real Estate Forecast.) Prediction 1. Interest rates on the 30-year fixed-rate mortgage will jump to near 7 percent, cooling the pace of housing sales. Interest rates stayed in the 5 percent range this year, increasing in the spring, but not enough to significantly cool home sales. 2004 will end up recording more single-family home sales than 2003. Prediction 2. The Justice Department will close its investigation of the National Association of Realtors' virtual office Web site policy without taking any action against the organization or MLSs that implement the policy. The DOJ investigation is still ongoing, and the NAR has extended the date for MLSs to comply with the policy until July 1, 2005. Prediction 3. HomeServices of America will go on a brokerage company buying binge. At least one major realty brokerage will be bought by a major bank holding compan...
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