Lawrence Yun Archive

WATCH: Lawrence Yun Discusses March Pending Sales, Inventory and Lumber

After last week’s report of a solid 4.4 percent jump in existing-home sales in March, signed contracts to purchase homes split the other way, inching backward 0.8 percent. The reason, according to NAR Chief Economist Lawrence Yun, is simple:...

Home Sales Spiked in March…and Sold Fast

An abnormally warm winter, strong consumer confidence and robust underlying demand ended up being the perfect formula to push existing-home sales in March to their highest pace in over 10 years. More notably, despite the fact that supply is...

Instant Reaction: March Housing Starts

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Commerce Department report on March residential construction: “A major housing shortage exists in this country. It is therefore disappointing to witness in March the continued lackluster...

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....

Existing-Home Sales Hit Rough Patch in February

Talk to a Realtor® in much of the country right now and they’ll all echo a similar narrative: homes are selling quickly because there are not enough listings on the market. It’s why existing sales stumbled in February and price...

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: S&P/Case-Shiller Index

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s S&P/Case-Shiller index national home-price index reading for December: “Rising mortgage rates should not be boosting home prices, yet home values accelerated with a 5.8% annual gain in December...
February 28, 2017

January Existing-Home Sales: A Nice Start to the Year

Mortgage rates have shot up 38 basis points since last November’s cyclical existing sales peak of 5.60 million. One would think that would translate into a dip in sales activity at the beginning of 2017. Today’s report shows that...
February 22, 2017

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...