Chief economist of the National Association of Realtors expects gradual improvement in the housing market in 2012.  Lawrence Yun cited low interest rates, population growth, and a decline in unemployment over the course of 2012 as the main predictors of the upcoming housing improvement.

This comes as good news for buyers who are on the fence and don’t want to buy if the market is expected to slide even further.  Yun also predicted mortgage interest rates to rise slightly to 4.5% by the end of 2012.

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