NAR Chief Economist Prediction: Falling Interest Rates, Rising Existing-Home Sales in 2024

During the “Residential Economic Issues & Trends Forum” at National Association of Realtors 2024 Realtors Legislative Meetings, NAR Chief Economist Lawrence Yun forecasted that interest rates will fall in the long term, 2024 existing-home sales will rise to 4.46 million (up 9% from 4.09 million in 2023) and 2025 existing-home sales will increase to 5.05 million (up 13.2% from 2024) – with further gains in eight of the next 10 years. Other key points from his discussion:

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