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Tag Archives: Lawrence Yun

The Home Price Eclipse

The current imbalance of supply and demand in the housing market has caused second quarter home price results to continue on its path, overshadowing 2016 numbers. However, could these numbers point to crisis?

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Home Buyers Facing Frustrations

Existing home sales took a drop in April as prospective buyers and middle-income homeowners faced problems in the current housing market. Tightening supply continues to drive up prices. Properties, on average, stayed on the market for a month.

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Economy Experts Present Midyear Forecast

Higher existing-home sales do not necessarily mean high homeownership rate. With homes selling fast, homebuyers are starting to realize they can afford less of what is on the market. Lawrence Yun, chief economist of the National Association of Realtors, Jonathan Spader, senior research associate at the Joint Center for Housing Studies at Harvard University, and Mark Calabria, chief economist and assistant to Vice President Mike Pence weigh in on the 2017 midyear forecast.

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Pending Home Sales Rise to Highest Level Since June 2013

The Pending Home Sales Index rose 3.1 percent to 106.9 in February from a slight downward revision of 103.7 in January and is 12 percent about the February 2014 number of 95.4. The index is at its highest level since June 2013 and has increased year-over-year for six consecutive months and is above 100, considered an average level of activity, for the tenth consecutive month.

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Median Home Price Rises 7.5 Percent in February

Sales are 4.7 percent higher than a year ago and above year-over-year totals for the fifth consecutive month. The median existing home price for all housing types in February was $202, 600. That is 7.5 percent above the February 2014 price. This marks the 36th consecutive month of year-over-year price gains since last year.

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