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.
A Top Real Estate Economist Just Declared That The Housing Recession Is Over
prosen@insider.com (Phil Rosen), Business Insider
Thu, 07/27/2023 - 10:17am
Topics: reuters/robert galbraith nar's lawrence yun the pending home sales index case-shiller markets business insider national association realtors lawrence yun nar june pending yun federal reserve top economist housing recession year rates data mortgage rate thursday released demand multiple presence price implies offers monthly lack group climbed due supply satisfied contract policy meaningful tight
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