Comment on A top real estate economist just declared that the housing recession is over

A top real estate economist just declared that the housing recession is over

REUTERS/Robert Galbraith National Association of Realtors economist Lawrence Yun says the housing recession is over. NAR data released Thursday showed pending home sales rose 0.3% in June compared to May. "The presence of multiple offers implies that housing demand is not being satisfied due to lack of supply." Pending home sales climbed in June by 0.3%, according to National Association of Realtors data released Thursday, prompting the group's chief economist to declare the end of the US housing sector's downturn."The recovery has not taken place, but the housing recession is over," NAR's Lawrence Yun said in a statement.

 

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