Realtor Michael Mahoney in Boston with eXp Realty
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Realtor Chief Economist Forecast: No Bubble

Realtor Chief Economist Forecast: No Bubble

Lawrence Yun - Chief Economist for the National Association of Realtor

The economy remains strong, and housing will continue to see stable growth, Lawrence Yun, chief economist for the National Association of REALTORS®, predicted Friday at the REALTORS® Conference & Expo in Boston.

NAR Chief Economist Lawrence Yun
© REALTOR® Magazine

NAR Chief Economist Lawrence Yun told attendees at the REALTORS® Conference & Expo in Boston that another recession is unlikely in the short-term future because economic fundamentals are healthy.

Yun forecasted about 6 million new- and existing-home sales by the end of 2018 and slightly more than that each year for the next two years. Home prices will also see modest growth—about 4.7 percent this year, 3.1 percent in 2019, and 2.7 percent in 2020.

Yun said he sees no signs of a housing bubble, even though home prices have been outpacing income for many years. That’s because the economy remains fundamentally sound, mortgage quality is high, and with inventory shortages persisting in some markets, there’s none of the overbuilding that characterized the run-up to the Great Recession.

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5suzannechapman1208

I selected Mike after having a very unsuccessful experience with a previous broker. He had excellent ideas in helping to sell my house and continued to advertise it with a fresh perspective. His experience helped in a number of ways and I only wish we had... (more)

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This is the second property I have sold in Weymouth MA with Mike as my broker. He research the area and give you all the information you need to decide what to list your property for, so it sells timely. He also helps review and negotiate all offers and is... (more)

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We had been trying to sell our condo for well over a year and decided to give Mike a shot at it as he came well recommended. It was not easy for him but he persisted and had success. Even though it wasn't a big sale or profit for him, he acted as though it... (more)

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