Mortgage News Daily
The last of a series of three working papers on the hurdles hampering homeownership was introduced on Friday in conjunction with the 2017 Realtors® Conference and Expo and the 2018 forecast for housing from Lawrence Yun, chief economist of the National Association of Realtors (NAR). Yun said that the many positives for housing that should pave the way for an increase in existing home sales are being handcuffed by continued supply shortages and passage of a tax bill that could disincentivize homeownership.
“Despite considerable demand all year, pending sales have lost a step in recent months because low supply is pushing prices higher and making homebuying less affordable in several parts of the country,” Yun said.
