Ron Peltier, head of the real-estate brokerage business at Berkshire Hathaway Inc. (A:US), expects home prices to climb this year after the supply of available properties fell, he told CNBC.
“We have a switch from a surplus of inventory to a shortage of inventory,” Peltier, the chief executive officer of HomeServices of America, told the business news station in an interview today. “Together with low interest rates and affordability at an all-time high, I think we will see sales units grow again in 2013 about 10 percent and prices in the high single digits in terms of growth.”
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