According to Freddie Mac’s May 2018 Outlook Report, swift U.S. home-price growth and the ongoing climb in mortgage rates this year have made buying a home more expensive, but home sales are still on track to squeak out a gain in 2018. Through the first five months of 2018, home shoppers have battled the trifecta of climbing home prices, higher mortgage rates and low supply. Despite these obstacles, Freddie Mac expects the healthy economy and strong consumer confidence to lead to around a 3 percent increase in total home sales (new and existing) this year.

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Source: World Property Journal