Lawrence Yun
From Staff Reports While 2022 hasn’t exactly turned out to be a picnic for the real estate industry, many industry forecasts are predicting 2023 to be a challenging year. Looking into his crystal ball, National Association of Realtors chief economist and senior vice president of research, Lawrence Yun, made his predictions for 2023 at NAR’s…
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Staff Report Amid the backdrop of high inflation, elevated mortgage rates, and slowing sales activity, severely limited housing inventory will prevent large home price drops for most of the country next year, according to NAR Chief Economist Lawrence Yun. Yun analyzed the current state of the residential real estate market and shared his 2023 outlook…
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The National Association of Realtors just released a report showing existing home sales sliding by 5.9 percent in July from the previous month. That’s the sixth month in a row of declining sales numbers. Statewide statistics reflect a cooling market, too, with closed sales down 16.1 percent for July according to recently released numbers from…
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From Staff Reports With supply chain issues plaguing home builders and rates forecasted to increase throughout 2022, more buyers than ever rushed to the market to buy an existing home. The statistics, which come from the November existing home sales report from the National Association of Realtors, show that existing home sales increased by 1.9…
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Just as the nation was starting to catch its breath in this crazy housing market, a dip in housing starts might cause another squeeze on inventory. On Wednesday, the Commerce Department released a report showing an increase in building permits after three consecutive months of falling short. However, the sector that posted the rebound was…
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