Realtors Group Raises Home Sales Forecast
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The National Assn. of Realtors raised its forecast for U.S. home sales this year, predicting a 0.3% increase to a record 6.56 million units, as falling mortgage rates make it possible for more people to buy houses.
The new forecast is 1.3% higher than the Washington-based trade group’s projection a month ago, and would exceed the previous record of 6.54 million new and existing homes sales set last year. At the beginning of the year, the group forecast a drop of 3.8% in sales this year.
The association’s increase in projected home sales follows a similar upward revision from mortgage company Fannie Mae on Monday.
From Bloomberg News, Reuters
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