Content about Lawrence Yun

September 19, 2013

Existing-home sales were at their highest in six and a half years in August, rising 1.7% to a seasonally adjusted annual rate of 5.48 million. Specifically, single-family home sales were up 1.7% to a seasonally adjusted annual rate of 4.84 million.

Despite the record numbers, National Association of Realtors chief economist Lawrence Yun cautioned that they may represent a temporary peak.

August 29, 2013

The Pending Home Sales Index for July declined 1.3% to 109.5 as higher mortgage rates dampened enthusiasm for home buyers, according to the National Association of Realtors (NAR).

The NAR's Chief Economist Lawrence Yun didn't seem concerned by what he called a "modest decline in sales." 

The Pending Home Sales Index is a forward-looking indicator based on contract signings. The index has remained above year-ago levels for 27 consecutive months.

August 21, 2013

Total existing-home sales fared well in July, experiencing a 6.5% increase to a seasonally adjusted annual rate of 5.39 million, marking the 25th consecutive month that sales have remained above year-ago levels.

The National Association of Realtors reported that July's figures are up from June's downwardly revised total of 5.06 million and are 17.2% higher than July 2012's 4.60 million.

Total housing inventory rose 5.6% to 2.28 million existing homes available for sale, marking a 5.1 month supply that was consistent with June's figures.

June 20, 2013

On the heels of promising housing starts figures from last month, May's existing-home sales also experienced a sizeable year-over-year bump, according to the National Association of Realtors.

May 6, 2013

Pending home sales increased in March and remain above year-ago levels, according to the National Association of Realtors.

February 22, 2013

Up 0.4% from a downwardly revised December, existing-home sales shows strong buyer demand, according to the NAR.

January 28, 2013

December takes a step back, but NAR data show a long-running upward trend on a year-over-year basis.

January 23, 2013

Total existing-home sales declined 1.0% to a seasonally adjusted annual rate of 4.94 million in December from a downwardly revised 4.99 million in November, according to the National Association of Realtors.

November 8, 2012

Existing single-family home sales rose in 120 out of 149 metropolitan statistical areas based on closings in the third quarter of 2012 compared with the same quarter in 2011, according to the national Association of Realtors (NAR), while 29 areas had price declines. In the second quarter of 2012, 110 areas showed increases from a year earlier.

October 30, 2012

The Pending Home Sales Index, a forward-looking indicator based on contract signings, edged up 0.3% to 99.5 in September from 99.2 in August and is 14.5% above September 2011 when it was 86.9. The data reflect contracts but not closings. 

October 19, 2012

September existing-home sales declined modestly, according to the National Association of Realtors. Inventory continued to tighten and the national median home price recorded its seventh back-to-back monthly increase from a year earlier.  

Total existing-home sales fell 1.7% to a seasonally adjusted annual rate of 4.75 million in September from an upwardly revised 4.83 million in August, but are 11.0% above the 4.28 million-unit pace in September 2011.

October 15, 2012

In a survey by the National Association of Realtors (NAR) in September, 65% of realtors reported they had no contract problems relating to home appraisals over the past three months; 11% said a contract was canceled because an appraised value came in below the price negotiated between the buyer and seller; 9% reported a contract was delayed; and 15% said a contract was renegotiated to a lower sales price as a result of a low valuation.

September 20, 2012

Existing-home sales continued to improve in August, according to the National Association of Realtors. 

"The housing market is steadily recovering with consistent increases in both home sales and median prices,” said Lawrence Yun, NAR chief economist. “More buyers are taking advantage of excellent housing affordability conditions.” 

July 19, 2012

Numbers released today by the National Association of Realtors (NAR) showed continued gains in existing home prices but a slower market for sales. Completed transactions that include single-family homes, townhomes, condominiums and co-ops declined 5.4% percent in June compared to May. In year-over-year figures, June 2012 was 4.5% higher than June 2011.

May 22, 2012

According to the tally from the national Association of Realtors, there’s the beginning of a return to normalcy taking place across housing.

Existing-home sales in April rose to a seasonally adjusted annual rate of 4.62 million, up 3.4% from a downwardly revised 4.47 million in March.

April 19, 2012

Data from the National Association of Realtors (NAR) showed a decline in total existing-home sales for the month of March. 

Sales of existing-homes declined 2.6% to a seasonally adjusted annual rate of 4.48 million in March.

Still, economists from the NAR see signs of a stabilizing market in the figures. 

April 19, 2012

Data from the National Association of Realtors (NAR) showed a decline in total existing-home sales for the month of March. 

Sales of existing-homes declined 2.6% to a seasonally adjusted annual rate of 4.48 million in March.

Still, economists from the NAR see signs of a stabilizing market in the figures. 

February 28, 2012

The National Association of Realtors (NAR) Pending Home Sales Index rose 2.0% to 97.0 in January, according to data released yesterday.

According to NAR chief economist Lawrence Yun, the numbers inspire hope for an active home-buying season this spring.

February 28, 2012

The National Association of Realtors (NAR) Pending Home Sales Index rose 2.0% to 97.0 in January, according to data released yesterday.

According to NAR chief economist Lawrence Yun, the numbers inspire hope for an active home-buying season this spring.

November 21, 2011

According to data released Monday by the National Association of Realtors (NAR), existing-home sales in October rose 1.4% to a seasonally adjusted annual rate of 4.97 million.

Compared to a year ago, the current figure is up 13.5%.

“Home sales have been stuck in a narrow range despite several improving factors that generally lead to higher home sales such as job creation, rising rents and high affordability conditions," said Lawrence Yun, NAR chief economist. "Many people who are attempting to buy homes are thwarted in the process."

November 21, 2011

According to data released Monday by the National Association of Realtors (NAR), existing-home sales in October rose 1.4% to a seasonally adjusted annual rate of 4.97 million.

Compared to a year ago, the current figure is up 13.5%.

“Home sales have been stuck in a narrow range despite several improving factors that generally lead to higher home sales such as job creation, rising rents and high affordability conditions," said Lawrence Yun, NAR chief economist. "Many people who are attempting to buy homes are thwarted in the process."

October 20, 2011

Total existing-home sales in September decreased 3% to a seasonally adjusted annual rate of 4.91 million from an upwardly revised 5.06 million in August, according to the National Association of Realtors (NAR). The September figure is 11.3% above the 4.41 million-unit pace in September 2010.

This drop in existing-home sales comes just a day after the release of September housing starts, which showed 15% growth. 

September 30, 2011

Pending home sales, an index that tracks contracts signed but deals not yet closed, slipped 1.2% in August 2011, according to figures released Sept. 29 by the National Association of Realtor (NAR).

July 20, 2011

Existing-home sales dipped in June by 0.8%, to 4.77 million from 4.81 million in May, according to the National Association of Realtors (NAR). This figure remains 8.8% below the 5.23 million unit level in June 2010, which was the scheduled closing deadline for the home buyer tax credit, the organization noted. 

Sales gains in the Midwest and South were offset by declines in the Northeast and West. Single-family home sales were stable, while the condo sector weakened.

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