Home Prices Rising at ‘Unsustainable’ Rate

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Home prices have been soaring by double digits compared to last year’s numbers and the National Association of REALTORS® are calling the rises “unsustainable.”

The price for existing home sales surged 15.4 percent higher in May compared to last year.

“Some of the increases can be explained by the fact that it is recovering from an over-corrected situation,” says Lawrence Yun, NAR chief economist. “But with people’s income rising at only 1 or 2 percent and prices rising in double digits, it cannot continue.”

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