Because of a strengthening economy, job growth and an increase in home prices, the National Association of Realtors predicts a 7 percent rise in existing-home sales in 2015.
NAR Chief Economist Lawrence Yun sat down with T.J. Doyle, NAR's social media director, to discuss share a list of projections for 2015. The median home price and rent cost are both expected to increase 4 percent in 2015. New home sales should see a rise of 37 percent.
Potential speed bumps include mortgage rate increases and constraints on first-time buyers.
Watch the video below:
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