At last week’s REALTORS Legislative Meetings in Washington D.C., NAR Chief Economist Lawrence Yun, predicted that despite headwinds such as inventory and affordability challenges, a moderate and multiyear increase in home sales is likely ahead. After accelerating 3.8 percent in 2016m existing home sales rose only 1.1 percent to 5.5 million in 2017 and are forecast to finish 2018 at a pace of around 5.6 million (up 1.8 percent). He projects 5.7 million sales for 2019.
