economy Archive

Instant Reaction: May Jobs Report

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Bureau of Labor Statistics (BLS) report on the employment situation in May: “Housing demand will be supported by the continuing job gains even as mortgage rates rise....

Pending Home Sales Fall in April, Third Lowest Level Since 2017

After modest increases in February and March, pending home sales dipped in April to their third-lowest level over the past year, according to NAR. The Pending Home Sales Index declined 1.3 percent to 106.4 in April from an upwardly...

Instant Reaction: S&P/Case-Shiller March Home Prices

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s S&P/Case-Shiller release on March home prices: “The solid gain home prices of 6.5% in March added roughly $150 billion to housing wealth during the month. But the continuing run-up...
May 29, 2018

Instant Reaction: Q1 GDP

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Commerce Department report on Q1 GDP: “The continuing economic expansion assures further job creations and household formations. However, the latest GDP growth rate (of 2.3%) is short of...
April 27, 2018

Existing Home Sales Grew Slightly in March; Supply Shortage Continues

After two straight months of declines, existing home sales climbed 1.1 percent in March but it was a familiar story as low inventory and high prices kept sales activity to a level lower than a year ago, according to...
April 23, 2018

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 (BLS) report on the employment situation in March: “The March jobs report was a bit soft, and first quarter GDP growth rate...

Instant Reaction: February Jobs Report

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Bureau of Labor Statistics release on employment conditions in February: “The strong job growth assures at least three interest rates hikes by the Federal Reserve in...

Instant Reaction: January Housing Starts

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s release from the U.S. Commerce Department on January new home construction: “Terrific news on housing starts in January with a solid 10% gain. This rise in single-family...
February 16, 2018

Instant Reaction: Lawrence Yun on Today’s FOMC Statement and 2018 Outlook for Mortgage Rates

The following is NAR Chief Economist Lawrence Yun’s reaction to the Federal Reserve’s decision today not to raise short-term rates, as well as how monetary policy the rest of the year will influence mortgage rates: “The Fed will not be on...

Instant Reaction: 2017 Q4 GDP

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Commerce Department release on Gross Domestic Product (GDP) in the fourth quarter: “The economy expanded at a respectable rate of 2.3% in 2017. That’s a good comeback...