The housing market forecast has been upgraded based on a rise in pending contracts and continued moderate economic expansion. Here is the latest 2012 Economic and Housing Outlook from NAR Chief Economist Lawrence Yun. The full 15 slide PowerPoint looks at economic indicators such as existing home sales, new home sales, housing starts, GDP, payroll jobs and more.

The Summary Forecast Table is also pasted below.

Link to the full PDF can be found here.