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NAR Economist Says Home Sales Will Rise 8% in 2025

  • November 13th 2024

by UrbanTurf Staff

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Following three years of declines, home sales are poised to bounce back next year. At least according to one industry professional. 

Lawrence Yun, the chief economist for the National Association of Realtors, expects home sales to rise 8% next year, and then 13% in 2026. 

"2024 has been a difficult year on many fronts, buy maybe the worst is coming to an end,” Yun said last week. “Directionally, I think there’s going to be roughly a 10% boost of existing-home sales in 2025 and 2026.”  

In addition to demand, Yun expects that interest rates will fall to around 6% in a second Trump term, leading more home sellers to enter the market.  

“Mortgage rates in his first term (at 4%) were the good old days. Are we going to go back to 4%? Per my forecast, unfortunately, we will not," Yun said. "It’s more likely that we’ll go back to 6%. That will be the new normal, bouncing around 5.5%-6.5%.”

This article originally published at https://dc.urbanturf.com/articles/blog/nar_economist_says_home_sales_will_rise_8_in_2024/22914.

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