By Laura Kusisto | The Wall Street Journal
Home sales will continue to grow next year, but will face headwinds including a lack of first-time buyers and rising mortgage rates, Realtors say.
More than 5.4 million existing single-family homes will be sold in 2016, up from an estimated 5.3 million homes sold in 2015, Lawrence Yun, chief economist at the National Association of Realtors, said at the group’s convention Friday in San Diego.
Mr. Yun anticipates that median home prices will grow at an annual rate of 5%, compared with 6% this year.
