Real estate sales headed for decline

Guest perspective: Lagging economy affects income growth

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The annual sales volumes for new and existing homes rose to an all-time high in May and June, pushing the months’ supply of unsold homes to all-time lows. Amid strong sales activity and low supply, home prices continue to climb.

With all the talk of rate increases, some consumers sense an urgency to take advantage of today’s low mortgage rates. Therefore, we don’t believe that the current peak sales volume levels can be sustained much longer.