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Home sales are expected to fall next year as aging baby boomers hang on to their properties and cause “gridlock” that could make 2020 a challenging year for hopeful buyers, Realtor.com reported Dec. 4 in its 2020 housing forecast.
Mortgage rates were unchanged during the past week; however, homebuyer demand rose 8%, indicating that sentiment toward real estate remained bullish, Freddie Mac reported Dec. 5 in its Primary Mortgage Market Survey. Construction spending fell modestly during the reporting period.
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