NAR upgrades housing forecast for remainder of year

The housing market has been off to a roar this spring. In fact, the market is performing so strongly that the National Association of REALTORS has upgraded its forecast for the year. 

At the start of the year, home sales were expected to match last year’s pace due to higher mortgage rates and diminishing affordability. But the market is hardly slowing down, with NAR Chief Economist Lawrence Yun predicting existing-home sales to rise by 3.5 percent, and home prices to likely increase by 5 percent this year.

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