Tag Archives: Lawrence Yun

Although Black homeowners experienced the smallest wealth gains among any other racial or ethnic group, homeowners were able to accumulate over $115,000 in wealth in the last decade, according to a new report from the National Association of Realtors.

However, while monthly numbers show a short-term improvement, the National Association of Realtors found the market to be down nearly 25% year-over-year.

According to the National Association of Realtors, the average price of a home rose to $378,700 in the fourth quarter of 2022.

According to the National Association of Realtors, all four major U.S. regions analyzed recorded month-over-month and year-over-year declines in existing home sales.

After experiencing a near 5% monthly drop in pending October sales, NAR reported the near-20-year high in mortgage rates and expensive home prices forced many prospective buyers to the sidelines.

Distressed sales, including foreclosures and short sales, comprised just 1% of home sales in October 2002 according to new NAR data, down from 2% in September.

"The housing sector continues to undergo an adjustment due to the continuous rise in interest rates" said Lawrence Yun, Chief Economist of NAR. "Expensive regions of the country are especially feeling the pinch and seeing larger declines in sales."

The Pending Home Sales Index (PHSI), which measures housing contract activity, again fell in August, the third month in a row and the ninth time it has fallen this year. In addition, three out of the four major regions in the ...

The Pending Home Sales Index (PHSI), which measures housing contract activity, again fell in July, the second month in a row and the eighth time it has fallen this year. In addition, three out of the four major regions in ...

Despite market influences that are pushing up mortgage rates and slumping home sales numbers during the second quarter of 2022, most metropolitan areas still saw double-digit annual price gains compared to the previous quarter.  This new information comes by way ...