According to the National Association of Realtors, home sales and prices are expected to continue to rise over the next year as mortgage rates increase. Many experts are worried that the increase will cause housing affordability to decrease. Home prices have been forecasted to jump 6% next year, and mortgage rates are expected to increase to an average of 5.4% by the close of 2014. Additionally, the NAR says that housing starts need to pick up about 50% in order to satisfy high demands. More here
