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Economic Outlook for 2016

By Lawrence Yun, Chief Economist, NATIONAL ASSOCIATION OF REALTORS®

Existing home sales in 2015 are on track to rise by 7 percent, and to have the best year since 2006 with 5.3 million unit sales. New home sales will have risen by 15 percent, and the median national home price looks to have risen 6 percent. A typical broker in 2015, therefore, would have experienced around 13 percent growth in business dollar revenue. For 2016, the growth will continue, but not as strong.

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