Blame supply and affordability headwinds and Hurricane Harvey damage in Houston for August’s 2.6 percent decline in pending home sales.

In the video below, I chat with NAR Chief Economist Lawrence Yun about why sales have stalled in recent months, why he’s now expecting 2017 sales to come up short of 2016, and what impact the Federal Reserve’s plan to unwind its balance sheet will have on mortgage rates and affordability headed into next year.

Source: Newsline

Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.

This Article Appears Courtesy of Steven Diadoo

Steven Diadoo, Licensed Realtor in MN with BRIDGE REALTY and best-selling author of 'Road to Success' with Jack Canfield (Chicken Soup for the Soul), Board Member at Bowling for Brains Non-Profit 501(c)3 (Event to benefit the American Brain Tumor Association), licensed Realtor with Bridge Realty, Seen on DIY TV, Create Channel and PBS. For help buying and/or selling a house, please call (952) 270-6141 or Click here.