economy Archive

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...

Instant Reaction: April Housing Starts

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Commerce Department report on April residential construction:  “With housing starts declining in April, inventory shortages will continue for a longer period of time. The intensifying housing...

Instant Reaction: April Jobs Report

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Bureau of Labor Statistics jobs report for April: “This good jobs report for April should dispel any notion of a potential economic recession. Moreover, the continuing low...

Instant Reaction: March Jobs Report

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Bureau of Labor Statistics’ report on employment conditions in March: “The soft hiring seen in March is not too concerning and likely a single month aberration....

Instant Reaction: Today’s FOMC Meeting

Below is the following statement from NAR Chief Economist Lawrence Yun on the Federal Reserve’s decision today to raise short-term rates for the first time in 2017: “Rising inflation will predominantly dictate the next monetary policy decision, but another...

Instant Reaction: February Jobs Report

The following is NAR Chief Economist Lawrence Yun’s thoughts on this morning’s U.S. Bureau of Labor Statistics’ February jobs report: “The boosts to business and consumer confidence over the past few months is evidently leading to faster hiring. The...

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...