NAR Midyear Forecast: Existing Sales Up 3.5 Percent

One of the most well-attended forums at the annual REALTORS® Legislative Meetings & Trade Expo is the Thursday morning housing and economic forecast headlined by NAR Chief Economist Lawrence Yun.

This morning’s all-star trifecta of speakers did not disappoint. Yun was joined onstage with Jonathan Spader, senior research associate at the Joint Center for Housing Studies at Harvard University, and Mark Calabria, chief economist and assistant to Vice President Mike Pence.

Spader’s presentation addressed past and projected movements in the homeownership rate, and Calabria dove into why addressing weak productivity and the low labor force participation rate is necessary to boost the economy.

A written recap can be found here. Yun’s forecast is below:

NAR Economic Forecast1

NAR Housing Forecast1