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Outlook: Home sales have bright future

Outlook: Home sales have bright future/REALTORMag
NAR Chief Economist Lawrence Yun gives his economic forecast at the 2016 REALTORS® Conference & Expo in Orlando, Fla.

By Robert Freedman, REALTOR® Magazine

Younger buyers are likely to drive growth in residential markets in the years ahead as the economy stays on a positive track and interest rates stay relatively low, two top economists said Friday at the 2016 REALTORS® Conference & Expo in Orlando, Fla.

NAR Chief Economist Lawrence Yun gives his economic forecast at the 2016 REALTORS® Conference & Expo in Orlando, Fla.

Look for existing-home sales to end the year at a 5.4 million level, a small increase from last year, NAR Chief Economist Lawrence Yun told REALTORS® at a residential economic forum. For 2017, he expect sales to grow modestly, to 5.5 million units and then to 5.7 million the year after that.

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