As chief economist of the National Association of Realtors, the housing industry’s biggest cheerleader, Lawrence Yun often has an optimistic outlook. On Friday, he embraced a bit of caution.
Mr. Yun outlined his housing-market forecast for 2014 at NAR’s annual conference here, predicting that existing home sales will remain flat at roughly 5.1 million units, prices will rise by 6% and interest rates, currently at 4.16%, will jump to 5.4% by the end of next year.
via NAR Sees Home Prices Rising in 2014, Rates Jumping to 5.4% – Developments – WSJ.