U.S. Home Sales Rebound May Stall as Prices and Interest Rates Rise, Business and Industry Trends Analysis

According to the National Association of Realtors (NAR), sales of existing homes fell from 7.08 million units in 2005 at the peak, to 4.12 million in 2008 at the bottom for recent years.  For 2016, 5.45 million units were sold, and 5.54 million are projected for 2017.  In 2016, a median existing home price of $233,900 was reported, and for 2017, $243,000 was forecasted.  This means that affordability is becoming an issue, as higher prices mean higher monthly mortgage payments. Meanwhile, there is concern that interest rates will be rising sometime in 2017-18, as the U.S. Federal Reserve has indicated…

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