Fannie Mae

U.S. housing market seen as 'tough' for both buyers and sellers

U.S. housing market seen as 'tough' for both buyers and sellers

Next year is expected to be a tough environment for both buyers, particularly for entry-level buyers, and sellers, according to a forecast just released by Realtor.com.

As mortgage rates creep up to hit 5.5 percent by the end of 2019, the average home purchase will be 8 percent more expensive per month than 2018, according to the report.

"We don't expect a buyer's market on the horizon within the next five years," said Danielle Hale, chief economist for realtor.com.

A separate housing survey released by Fannie Mae also concluded that only one in five Americans think it is a good time to buy a home.

Sellers will see increasing competition adding pressure...

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