economy Archive

Instant Reaction: November 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 November: “November marked another impressive month for the labor market, adding up to now over 2 million...

WATCH: Realtors® November Housing Minute

Existing-home sales and contract signings saw strong gains in October, but both remained below year ago levels because of the persistent supply and affordability barriers in much of the country. Watch above, or visit https://www.nar.realtor/videos/housing-minute to view a 56-second,...
November 30, 2017

NAR’s 2018 Housing and Economic Forecast

NAR Chief Economist Lawrence Yun presented his 2018 economic and housing forecast this morning here at the 2017 Realtors® Conference and Expo in Chicago. Yun expects existing-home sales to rise 3.7 percent next year. However, there are some caveats. Low...
November 3, 2017

Instant Reaction: Q3 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 third quarter: “Economic growth of 3% in the third quarter is quite impressive in light of...

Instant Reaction: September 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 September: “The key statistic in the September jobs report is the fact that wages grew 2.9%. The...

Student Debt Delaying Millennials’ Life

NAR Research’s new survey out today on millennial student debt offers up some sobering news that has both implications for the housing market and overall economy. Consider the key findings highlighted below. Millennials are typically carrying a student debt load...
September 18, 2017

Instant Reaction: August Jobs Report

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Bureau of Labor Statistics on the employment situation in August: “Job creation in July was a bit light at 156,000. The unemployment rate is very low,...
September 1, 2017

Inventory Crunch Stalls Sales in July

It came very apparent when looking at NAR’s Pending Home Sales Index that tight inventory conditions were weighing down on contract activity this spring and early summer. The three month decline in pending sales from March to May has now...

Instant Reaction: July Housing Starts

Below is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Commerce report on July housing starts: “The housing shortage in America will intensify if new construction remains as lackluster as it was in July. The softening multifamily housing starts...

Instant Reaction: July Jobs Report

The following is NAR Managing Director of Housing and Commercial Research George Ratiu’s reaction to this morning’s U.S. Bureau of Labor Statistics release on the July employment situation: “The employment report showed solid gains in July, with 209,000 net...