NAR Chief Economist, Lawrence Yun (PRNewsfoto/National Association of Realtors)
Total
1
https://www.nar.realtor/existing-home-sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 2.5% from October to a seasonally-adjusted annual rate of 6.69 million in November. However, sales in total rose year-over-year, up 25.8% from a year ago (5.32 million in November 2019). Home sales in November took a marginal step back, but sales for all of 2020 are already on pace to surpass last year s levels, said Lawrence Yun, NAR s chief economist. Given the COVID-19 pandemic, it s amazing that the housing sector is outperforming expectations.
Yun notes that job recoveries have stalled in the past few months, and fast-rising coronavirus cases along with stricter lockdowns have weakened consumer confidence.
4 Home Modifications That Can Expand Your Buyer Pool
apartmenttherapy.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apartmenttherapy.com Daily Mail and Mail on Sunday newspapers.
NAR Responds as CFPB Unveils Update to Qualified Mortgage Rule — RISMedia
rismedia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rismedia.com Daily Mail and Mail on Sunday newspapers.
Real estate experts predict the Spokane area will be one of the nation’s top-performing housing markets post-COVID-19.
Spokane is among 10 metro areas nationwide that have shown resilience during the pandemic. That momentum is likely to continue for the next two years, Lawrence Yun, chief economist for the National Association of Realtors, said at a virtual event Thursday for the nation’s Realtors.
“Some markets have been performing exceptionally well throughout the pandemic, and they’ll likely carry that momentum well into 2021 and beyond because of strong in-migration of new residents, faster local job market recoveries and environments conducive to work-from-home arrangements and other factors,” Yun said in a statement released during the event.