NAR’s chief economist shares what now needs to happen to bring down borrowing costs and increase affordability for home buyers.
“Home prices have increased at a pace that far exceeds wage gains, especially for low- and middle-income workers,” says NAR Chief Economist Lawrence Yun.
Though weekly changes in borrowing costs are volatile, housing activity is reaching more balanced levels—which is ultimately good for buyers, says Freddie Mac’s chief economist.
While women make up more than 60% of the real estate profession, they do not hold nearly that same level of representation in industry leadership roles.
The average monthly mortgage payment has fallen 12% reduction in just two months as high borrowing costs moderate, says NAR Chief Economist.
A contracting economy typically means a recession, but other economic indicators are likely to mitigate the effects of the slowing economy, says NAR’s chief economist.
REALTOR® associations and an MLS band together in the Chicago area to bring more tech innovation to its members.
The market has mostly priced in current and future Fed actions, so mortgage rates shouldn’t rise dramatically, says NAR Chief Economist Lawrence Yun.
A housing slowdown precipitated by low inventory and rising mortgage rates will open opportunities for some buyers, NAR Chief Economist Lawrence Yun predicts.
Record-high home prices, declining consumer confidence and fears of recession are taking their toll on aspiring homeowners.
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