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 (not new) homes fell from 7.08 million units in 2005 at the peak of the last boom, to 4.12 million in 2008 at the bottom during the last recession.  For 2018, 5.34 million units were sold, and 5.21 million were projected for 2019.  In 2018, a median existing home price of $259,300 was reported, and for 2019, $259,400 was forecasted.  This means that affordability is becoming an issue, as higher prices mean both larger down payments and higher monthly mortgage payments. The U.S. Census reported homeownership rates (that is,…

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