Marketplace®

Daily business news and economic stories

Will increase in home sales continue into 2017?

Rising mortgage rates may have pushed some buyers last month to close home deals but economists don't expect that to be a big thing in 2017

An Open House sign directs prospective buyers to property for sale in Monterey Park, California.
An Open House sign directs prospective buyers to property for sale in Monterey Park, California.
FREDERIC J. BROWN/AFP/Getty Images

Sales of previously owned homes bumped up in November to their highest rate since 2007, according to a report out on Wednesday from the National Association of Realtors. You might expect rising mortgage rates would goose sales all the more in coming months, if buyers want to lock in purchases before rates climb too high. But some economists are skeptical about how much sales will pick up. 

Click the audio player above for the full story.

Related Topics