Existing home sales drop for 6th straight month: ‘Not a recession’

“Inventory remains tight and prices continue to rise nationally with nearly 40% of homes still commanding the full list price,” said NAR’s Chief Economist Lawrence Yun. Continue reading

Home price growth is scaling back, but not everywhere at once: NAR

Single-family homes saw a double-digit annual rise in sale prices in 148 of 185 metro markets in the second quarter, but overall numbers point to a housing market in the opening stages of a cooldown, according to a report. Continue reading

What is the government’s role in housing? The Real Word

This week, Byron Lazine and Nicole White discuss NAR chief economist Lawrence Yun’s recent testimony to Congress and 2022’s biggest residential real estate transactions (so far). Continue reading

NAR chief economist: Don’t expect big changes in mortgage rates

Speaking at NAR’s Real Estate Forecast Summit on Wednesday, Chief Economist Lawrence Yun said “inventory is turning” and the housing market is heading back toward a pre-COVID normal. Continue reading

Pending home sales take nosedive in June, signaling a bleak August

Pending home sales dropped 8.6 percent in June, suggesting a drop in home closings just around the corner, according to figures released Wednesday by the National Association of Realtors. Continue reading

Home sales fall for 5th month as median prices hit record high

Sales of existing homes ticked down 5.4 percent between May and June, falling 14.2 percent from a year ago, as median prices rose to $416,000, according to the National Association of Realtors. Continue reading

Pending home sales climb in May following 6 months of declines

But the modest .7 percent increase shouldn’t discount clear evidence of a transition spurred by high prices and mortgage rates, according to new data from the National Association of Realtors. Continue reading

The labor shortage is real. But its impact on real estate will surprise you

The latest jobless numbers show U.S. unemployment is holding steady at a very low 3.6 percent. In real estate, this situation may offer a slight counter trend to rising rates and inflation. Continue reading

NAR chief economist: We may be in for a ‘most unique’ recession

Lawrence Yun predicted this year’s housing market will see declining sales, rising home prices and an American Dream increasingly out of reach Continue reading

Secondary markets drove home price growth in Q1: NAR

The National Association of Realtors’ latest quarterly report revealed buyers’ search for cheaper housing led booming home price growth in Florida and other smaller markets. Continue reading