Tag Archives: lawrence yun

2023 may sink some agents — and that may not be a bad thing

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Economic downturns have historically shrunk the number of practicing Realtors. But those who stick around can end up doing even more deals, economists told Inman Intel. Continue reading →

Existing-home sales dip for 11th month, but NAR sees light ahead

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Existing-home sales fell 1.5 percent nationally between November and December while plunging 34 percent from December 2021, according to data released Friday by the National Association of Realtors. Continue reading →

‘The gate is beginning to open’: Big inflation drop may aid homebuyers

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The once-frantic pace of consumer price growth has been slowing for months, which may bode well for buyers’ budgets — and their financing, according to new data from the U.S. Bureau of Labor Statistics. Continue reading →

Cold winter looms as pending home sales fall for 6th-consecutive month

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The number of homes that went under contract in November dropped by another 4 percent, signaling a slow winter, according to data released Wednesday from the National Association of Realtors. Continue reading →

Existing-home sales drop in November as median prices inch up

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Sales of existing homes in November fell 7.7 percent to a seasonally adjusted annual rate of 4.09 million, according to data released Wednesday by the National Association of Realtors. Continue reading →

Pending sales fell in October for the fifth month in a row

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Rising rates and nervous consumers have set up the housing market for its “slowest fourth quarter in a decade,” according to one economist. Continue reading →

Existing-home sales slip for ninth-consecutive month in October

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Sales of existing homes fell 5.9 percent to a seasonally adjusted rate of 4.43 million — 28.4 percent lower than in October 2021, according to data released Friday by the National Association of Realtors. Continue reading →

NAR chief economist expects price of office space and apartments to dip

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NAR Chief Economist Lawrence Yun expects employees to spend 25% to 35% less time in the office, keeping downward pressure on office rent. The multifamily sector also saw prices drop with high borrowing rates. Continue reading →

NAR chief economist predicts ‘strong rebound’ in 2024

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Lawrence Yun said home prices will rise 1 percent and sales will dip 7 percent next year before recovering in 2024, in contrast to a Fannie Mae forecast last month that predicted falling prices in 2023. Continue reading →

Annual home price gains fall to single digits in most markets: NAR

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Annual home price growth fell from 14 percent in the second quarter to below 9 percent,, according to the National Association of Realtors latest quarterly metro home price report, released Thursday. Continue reading →