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November Existing-Home Sales: The Streak Continues
The headline of this post may lead you to believe that existing-home sales were up again in November for the third straight month. That is indeed true. However, “the streak” I’m referring to is the...
View ArticleLawrence Yun on Housing and the Economy in 2017
It’s hard to believe 2016 is coming to an end. Three things rose over the past year: mortgage rates, existing-home sales and home prices. What’s in store for 2017? Watch my discussion from earlier this...
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Existing-Home Sales Dip in December
A dip in existing sales activity in December (2.8 percent) was not enough to keep 2016 from being the strongest year of sales (5.45 million) in exactly a decade. During this morning’s press conference,...
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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...
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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...
View ArticleInstant 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...
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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...
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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....
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Existing-Home Sales Cooled in April
Home sales in April (-2.3 percent) could not keep up with the notable upswing seen in March (4.2 percent). It seems that we keep singing the same old tune every month about there not being enough...
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Low Inventory Is Pushing Prices Up and Days on Market Down
Existing-homes rebounded nicely in May as more buyers navigated the headwinds of weaker affordability and limited listings in the affordable price range. It’s very evident that supply this spring...
View ArticleWATCH: July Housing Minute
Homes continued to sell quickly in June, but the lean inventory levels in many markets caused existing-home sales to shift downward. The news was better for pending home sales, as contract activity...
View ArticleInstant 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...
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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...
View ArticleAn Animated Recap of July Housing Activity
Existing-home sales and contract signings both stumbled in July as stubbornly low levels hampered the housing market and kept home prices rising at a robust pace. Visit...
View ArticleAugust Housing Market Activity in One Minute
Looking for a quick recap of housing activity reported this month by NAR Research? Look no further than September Housing Minute, our animated video series highlighting key data in under one minute....
View ArticleNAR’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...
View ArticleWATCH: 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...
View ArticleNovember Sales Surprise to a Near 11-Year High; Contract Signings Also Rise
In what reflects the significant amount of pent-up demand in today’s housing market, existing-home sales surged in November to their strongest pace since December 2006. Good news was also found in...
View ArticleWATCH: Realtors® February Housing Minute
Despite stronger buyer interest in most of the country, extremely tight inventory conditions and weakening affordability caused both existing-home sales and pending sales to decline in January. Watch...
View ArticleWATCH: Realtors® March Housing Minute
Existing-home sales and contract signings both experienced meaningful increases in February despite higher mortgage rates, rising home prices and subpar supply levels in much of the country. Visit...
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