Mortgage Rates' Fast Rise Hurt Housing Market, During REALTORS® Legislative Meetings Economic Forum
- Bridge AOR
- Jun 4
- 1 min read
National Association of Realtors® Chief Economist Lawrence Yun said existing home sales will increase by 6% in 2025 and by 11% in 2026 during the "Residential Economic Issues & Trends Forum" at the NAR 2025 REALTORS® Legislative Meetings.
Yun forecasted that new-home sales will rise by 10% in 2025 and by 5% in 2026, the median home price will climb by 3% in 2025 and by 4% in 2026 and that mortgage rates will average 6.4% in the second half of 2025 and 6.1% in 2026.
Check out the full press release: http://nar.realtor/newsroom/nar-chief-economist-lawrence-yun-says-mortgage-rates-fast-rise-hurt-housing-market-during-realtors-legislative-meetings
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The recent fast rise in mortgage rates has clearly impacted the housing market, making homeownership less accessible and slowing down sales. As highlighted during the REALTORS® Legislative Meetings Economic Forum, buyers are feeling the pinch, and sellers are adjusting expectations, which could create long-term effects on housing affordability. It's a reminder of how sensitive markets are to interest rate fluctuations and the importance of staying informed on economic trends. On a related note, businesses in other sectors are also navigating the ripple effects of changing economic conditions. For instance, at spraytech, we continually monitor market demands to ensure high-quality products, including our premium Caramel Food color, meet customer expectations without compromising on efficiency. Just as homeowners and real estate professionals…
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