Lawrence Yun
Prospective homebuyers might have to wait longer for mortgage rates to dip down after the Federal Reserve decided to maintain benchmark interest rates on Wednesday, despite some dissension on the central bank’s board of governors. The move marks the fifth consecutive meeting the Federal Reserve opted against cutting rates. This month’s meeting, however, marked the…
Those hoping to see home prices calm down got a rude awakening last week when the National Association of Realtors clocked record-high listings for June. Nationally, the median sales price for existing homes hit $435,300, marking a 2% increase for the month year-over-year. Meanwhile, the sale of existing homes dipped by 2.7% between May and…
It can be difficult to wrap your head around all the various signals in the housing market these days. What does it mean that new home sales are going up? Prices coming down is a good thing, right? Is the upcoming end of Jerome Powell’s term as chair of the Federal Reserve a big deal?…
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…
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…
