Skip to main content

NAR Projects Increased Existing-Home Sales

Phil Hall
May 21, 2018
The housing markets in 21 of the nation’s largest 35 metros have more than recovered from the 2008 economic meltdown, according to a new data analysis from Zillow

Existing-home sales will end 2018 at around 5.6 million, a 1.8 percent increase from 2017, and will rise to 5.7 million in 2019, according to a forecast from Lawrence Yun, chief economist at the National Association of Realtors (NAR).
Speaking at the trade group’s 2018 Legislative Meetings & Trade Expo, said the numbers would be more robust if housing inventory had not been so anemic. Yun noted total housing inventory reached 1.67 million existing-homes available for sale at the end of the first quarter, which is 7.2 percent lower than a year ago (1.80 million). Inventory has trending lower for the last five years and shows no immediate signs of upward motion.
“Challenging affordability conditions have prevented a meaningful rise in the homeownership rate after having fallen to a 50-year low a few years ago,” said Yun. “To increase homeownership, more home construction is needed, which could be boosted by delivering regulatory relief to community banks, removing the lumber tariff, re-examining stringent zoning laws and training more workers for the construction industry.”

May 21, 2018
Williston Financial Group, Doma Strike Deal

WFG is set to acquire Doma’s title operations, including operation centers in the Northern and Central California.

May 24, 2023
Mat Ishbia Takes A Charge At NBA Playoff Game

UWM CEO and majority owner of the Phoenix Suns involved in scuffle with Denver center Nikola Jokic

May 08, 2023
The Pitfalls Of Cash-Out Refinancing In A Rising Interest Rate Environment

Second-lien home equity loans are a far better way to take out cash

May 02, 2023
NEW YORK: How To Conquer - Not Fear - The Empire State

Roadblocks are many but payoff is worth it

May 01, 2023
RCN Capital Opens LA Office

Expansion marks lender's continued success.

Apr 26, 2023
Trigger Lead Legislation Renews Debate Over Consumer Choice

Borrowers can protect themselves from unsolicited lenders, but they could be doing themselves a disfavor

Apr 20, 2023