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Slipping Buyer Enthusiasm to Give Way to Modest Home Sales in 2017 |
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Enthusiasm among homebuyers has slipped in light of lacking affordability and steadily rising mortgage rates, a disposition expected to give way to a modest gain in existing-home sales in 2017, according to the National Association of REALTORS® (NAR) fourth quarter Housing Opportunities and Market Experience (HOME) survey. Though 78 percent of the homeowners surveyed believe now is a good time to buy a home, just 57 percent of renters agreed—a decline from 60 percent in September and 68 percent one year ago. Existing-home sales are expected to inch up 2 percent to 5.52 million next year, up from 2016's expected 5.42 million. ...
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