Existing Home Sales on Track to Expand

Realtor.org | Following the housing market’s best year since the recession, existing-home sales are expected to increase in 2016 at a moderate pace; according to an economic forecast forum here at the 2015 REALTORS® Conference & Expo.

The pent-up demand for buying in recent years finally broke out in a meaningful way in 2015, fueled by sustained job growth in many parts of the country and rising home values, giving homeowners the incentive to sell – a trend that Lawrence Yun, chief economist of the National Association of Realtors®, expects to continue into next year.

“Sales activity in 2016 will once again be primarily driven by the ongoing release of more pent-up sellers finally realizing their equity gains and using it towards the down payment on their next home,” said Yun.

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