economy Archive

Instant Reaction: January Jobs Report

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S Bureau of Labor Statistics’ (BLS) January jobs report: “Job growth is critical in a rising interest rate environment. Every 10 basis point rise in mortgage rates can...

Instant Reaction: Q4 GDP Report

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Department of Commerce report on Gross Domestic Product (GDP) in the fourth quarter of 2016: “The economic growth of 1.9% in the final quarter was again...

Instant Reaction: December Housing Starts

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Commerce Department report on December residential construction: “Let’s hope the rising trend in new home construction continues throughout 2017. As evidenced by the brisk pace of...

Instant Reaction: December Jobs Report

The following is NAR Chief Economist Lawrence Yun’s reaction to today’s December jobs report from the U.S. Bureau of Labor Statistics. 156,000 jobs were created last month and wages meaningfully increased 2.9 percent year-over-year. “The top figure of net...

Lawrence Yun on Housing and the Economy in 2017

It’s hard to believe 2016 is coming to an end. Three things rose over the past year: mortgage rates, existing-home sales and home prices. What’s in store for 2017? Watch my discussion from earlier this week with NAR Chief...
December 29, 2016

Instant Reaction: Lawrence Yun on Today’s FOMC Decision

Below is NAR Chief Economist Lawrence Yun’s immediate reaction to the Federal Open Market Committee’s (FOMC) announcement this afternoon that it’s raising its benchmark interest rate for the first time in 2016: “The era of ultra-low interest rates is...
December 14, 2016

2017: Expect Higher Mortgage Rates, Slightly More Sales

2016 was a great year for the housing market. Existing-home sales are currently (as of October) at their strongest pace since February 2009, distressed sales reached an all-time low earlier this fall and first-time buyers finally gained some traction...
December 14, 2016

Instant Reaction: November Jobs Report

The following is NAR Chief Economist Lawrence Yun’s reaction to today’s November jobs report from the U.S. Bureau of Labor Statistics: “Today’s November jobs report can be summed up as not bad, but not great. The good news is...

Existing-Home Sales in October: Highest Pace in Nearly a Decade

The housing market has indeed awakened from its summer slumber. Existing-home sales posted a 2 percent monthly gain in October and are now 5.9 percent higher than a year ago. Even more impressive? At a 5.60 million annualized sales pace,...
November 22, 2016

Instant Reaction: Third Quarter GDP

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s release of U.S. Gross Domestic Product (GDP) during this year’s third quarter:  “The economy looks solid as GDP grew by 2.9% on an annualized basis in the...