Lawrence Yun is chief economist and senior vice president of Research at the National Association of REALTORS®. He directs research activity for the association and regularly provides commentary on real estate market trends for its 1.1 million REALTOR® members. Dr. Yun creates NAR's forecasts and participates in many economic forecasting panels, including Blue Chip and the Harvard University Industrial Economist Council. He appears regularly on financial news outlets and is a frequent speaker at real estate conferences throughout the United States. USA Today recently listed him among the top 10 economic forecasters in the country.
6 Signs of a Market Rebound
No one can predict exactly when the commercial market will take a turn for the better, but we asked NAR's Chief Economist Lawrence Yun to tell us what ecomonic signs provide clues of a rebound.
April 1, 2009
When you see several of these signs, you can feel confident better times are on the way.
- The number of people filing for unemployment falls, and office net absorption begins to turn positive.
- Bank balance sheets stop showing nothing but losses, and interest rates on commercial mortgages and construction loans decline.
- Home prices stabilize. Housing’s recovery is critical to a sustained economic recovery.
- Consumer confidence rebounds. This is a key indicator for retailers.
- Companies begin hiring temporary workers. Temps are often the first step companies take when orders increase.
- REIT share prices rise. These stocks often lead a real property recovery.
Chief Economist and Senior Vice President of Research at the National Association of REALTORS®