Realtors Group Trims Home Sales Forecast

The National Assn. of Realtors has lowered its forecast for U.S. home sales this year because of rising mortgage rates.

Sales of new and existing single-family homes will climb 1.6% to 6.64 million units, less than the 2.9% gain the Washington-based group predicted a month ago when rates were near 45-year lows.

The slower pace would still beat last year’s record home sales of 6.54 million.