Items Tagged with 'Lawrence Yun'

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  • NAR’s Yun: Mortgage rates may tumble to record 3.3% by 2019’s end

    Slowing economy adds to chances of a Fed rate cut, Yun said
    Fixed mortgage rates could fall to 3.3% by the end of the year as the nation’s economy slows, according to Lawrence Yun, chief economist of the National Association of Realtors. That would put the rate just a smidge below the 3.31% seen in November of 2012 – the lowest average for a 30-year fixed mortgage in Freddie Mac data going back to 1971.
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  • NAR’s Yun forecast for 2019 housing sales: New homes will drive market gains

    New home sales should reach a 12-year high as builders scramble to meet demand
    New home sales probably will reach a 12-year high in 2019, according to Lawrence Yun, chief economist of the National Association of Realtors. Sales of existing homes probably will be flat, he said at NAR’s Legislative Meetings & Trade Expo in Washington D.C. on Thursday.
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  • NAR's Yun says rates will "bifurcate" spring housing market

    Cheap rates will drive the low end, while luxury segment "softens"
    Sellers of houses near or below the U.S. median price of about $250,000 are going to see strong demand in the so-called spring selling season, said Lawrence Yun, chief economist for the National Association of Realtors. The high end of the market – homes priced above $750,000 – will have a tougher time, he said.
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  • Pending home sales show modest retreat in February

    NAR reveals a 1% decline last month after substantial January gains
    Pending home sales dropped 1% in February, declining 4.9% from last year, according to the latest report from the National Association of Realtors. NAR Chief Economist Lawrence Yun said that considering the fact that January's pending contracts were up nearly 5%, the 1% drop in February is not a significant concern, although it's clear that activity this spring will not match last year's frenzied pace.
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  • NAR: Pending home sales climb in all major regions

    Pending home sales climb 4.6% in January
    Pending home sales reversed course in January, rebounding in all four major regions, according to the latest report from the National Association of Realtors. NAR Chief Economist Lawrence Yun said a change in Federal Reserve policy and the reopening of the government were very beneficial to the market.
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  • NAR: Pending home sales unscathed from partial government shutdown

    Home transactions delayed, but expected to go forward
    Pending home sales fell on an annual basis for the 12th consecutive month in December, according to the latest report from the National Association of Realtors. NAR Chief Economist Lawrence Yun said the partial government shutdown has not caused any obvious damage to home sales.
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  • NAR: Pending home sales retreat for 11th consecutive month

    All regions but Northeast and West see decline
    Pending home sales fell on an annual basis for the 11th consecutive month in November, according to the latest report from the National Association of Realtors. NAR Chief Economist Lawrence Yun said the latest government shutdown will further harm the housing market.
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  • NAR: Pending home sales fall for 10th consecutive month

    All regions but Northeast experienced declines in October
    Pending home sales fell on an annual basis for the 10th consecutive month in October, according to the latest report from the National Association of Realtors. NAR Chief Economist Lawrence Yun said the recent rise in mortgage rates has reduced the pool of eligible homebuyers.
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  • NAR: Pending home sales increase in September, but decline annually

    Pending home sales have fallen on an annual basis for nine consecutive months
    Pending home sales increased 0.5% in September, but have still fallen on an annual basis for nine consecutive months in September, according to the latest report from the National Association of Realtors. NAR Chief Economist Lawrence Yun said that even though we are still seeing year-over-year declines, the latest monthly increase is a good, stabilizing trend.
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