Goldman Sachs Forecast Points to Lower U.S. Home Sales in 2027

Goldman Sachs projects roughly 3.9 million sales of existing U.S. homes in 2027. The share of younger millennial buyers purchasing a first home has fallen. The forecast compares with 5.34 million existing-home sales in 2019. Higher mortgage rates may discourage owners with cheaper fixed-rate loans from selling, while people entering the market face current borrowing costs. The average 30-year fixed mortgage rate was 7.40% Thursday, Oct. 15. A measure of the gap between existing fixed-rate mortgages and comparable market rates averaged 2.54 percentage points in the second quarter of 2024.

Source: TokenPost