Housing Economist Revises Closing Forecast

National Association of Realtors® Chief Economist Lawrence Yun has revised his 2026 housing market forecast downward due to rising mortgage rates. Originally expecting a 14% increase in existing-home sales and a 4% rise in prices, Yun now predicts sales growth of 2% or less and a decline in new-home sales of 5%. Mortgage rates exceeding 7% have been a key factor, significantly impacting market activity and outlook.

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