Economists Forecast Homeownership Rate Drop As Millennials Buy First Homes Later

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As Millennials Delay First-Time Home Purchases, National Homeownership Rate will Continue to Fall

Rising mortgage interest rates expected to have negative impact on number of home sales; Pace of home value growth to slow through 2018, according to Zillow Home Price Expectations Survey

-More than 100 expert panelists predict that U.S. home values will end 2014 up an average of 4.6 percent from 2013, to a median value of $177,895.

-85 percent of the experts expect median age of first-time homebuyers to rise to 32 or higher in next 10 years.

-On average, the panelists expect interest rates on a 30-year, fixed-rate mortgage to reach approximately 5.3 percent by mid-2016.

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