Michael Crist

The following is NAR Chief Economist Lawrence Yun’s reaction to today’s U.S. Commerce Department report on November housing starts: “There’s little to cheer about regarding residential construction in November.  The fall in single-family housing starts offers zero relief to the housing inventory shortage throughout the country.  Moreover, the collapse in multifamily starts assures continued robust… Continue Reading Instant Reaction: November Housing Starts

WASHINGTON (December 14, 2016) — Existing-home sales are forecast to muster only a small gain in 2017 because of increasing mortgage rates and shrinking consumer confidence that now is a good time to buy a home, according to new consumer survey findings and a 2017 housing forecast update from the National Association of Realtors®. In… Continue Reading Home Sales Expected to Expand Modestly in 2017 As Affordability Pressures Temper Buyer Enthusiasm

Below is NAR Chief Economist Lawrence Yun’s immediate reaction to the Federal Open Market Committee’s (FOMC) announcement this afternoon that it’s raising its benchmark interest rate for the first time in 2016: “The era of ultra-low interest rates is over. Today’s short-term rate hike will be followed by several additional rounds of increases in 2017 and… Continue Reading Instant Reaction: Lawrence Yun on Today’s FOMC Decision

2016 was a great year for the housing market. Existing-home sales are currently (as of October) at their strongest pace since February 2009, distressed sales reached an all-time low earlier this fall and first-time buyers finally gained some traction despite affordability and supply pressures. All of this adds up to what should be an even stronger… Continue Reading 2017: Expect Higher Mortgage Rates, Slightly More Sales

WASHINGTON (December 13, 2016) – Real estate brokers understand the importance of learning best practices regarding management and entrepreneurial skills and gaining valuable real estate insights that can make their brokerages more successful. For this reason, the National Association of Realtors® is inviting brokers from across the country to attend the 2017 Realtor® Broker Summit… Continue Reading 2017 Realtor® Broker Summit to Feature Market Forecasts and Insights, Inspiring Keynotes

The inventory of homes for sale continues to shrink. There were 2.02 million homes listed for sale at the end of October, representing only 4.3 months’ supply. A balanced market would be closer to 6-to-7 months’ supply.  From a year ago, the raw inventory count was down 4%, which marked nearly two straight years of… Continue Reading Housing Shortage for How Long?

For those who haven’t heard, the Mannequin Challenge, an online video challenge where people freeze in place to enact a still scene while someone takes a video of it, went viral in the last couple of months. The challenge, which started with teens capturing moments of adolescent life, has grown in popularity among people of… Continue Reading REALTORS® Get In On the Mannequin Challenge