According to Kiplinger’s economic outlook, the second half of 2014 could be promising for existing-home sales.
Kiplinger.com states the annualized pace of monthly sales is expected to be 5.3 million. It was 4.7 million, according to the website, over the first half of the year.
For the year, existing home sales are down 1.5 percent. Some reasons, according to Kiplinger.com, include: rising home values, fewer first-time home buyers, small wage gains and more restricted mortgage lending.