May/June 2015 Market Pulse

There are a few hurdles facing the market this summer.

May 13, 2015

Spring selling got off to a sunny start with the sales pace of existing homes hitting an 18-month high in March and NAR’s forward-looking Pending Home Sales Index showing continued improvement moving into summer. But inventory shortages and price increases continue to pose hurdles.

Who’s Buying?

Home buyer demographics have shifted dramatically. The share of homes bought by single women has fallen 33 percent since 2006, while unmarried couples’ portion has jumped 36 percent. Married couples’ ownership has increased 10 percent, and single men’s share is unchanged.

Lawrence Yun
Chief Economist and Senior Vice President of Research at the National Association of REALTORS®

Yun oversees and is responsible for a wide range of research activity for the association including NAR’s Existing Home Sales statistics, Affordability Index, and Home Buyers and Sellers Profile Report. He regularly provides commentary on real estate market trends for its 1.3 million REALTOR® members.

Dr. Yun creates NAR’s forecasts and participates in many economic forecasting panels, among them the Blue Chip Council and the Wall Street Journal Forecasting Survey. He also participates in the Industrial Economists Discussion Group at the Joint Center for Housing Studies of Harvard University. He appears regularly on financial news outlets, is a frequent speaker at real estate conferences throughout the United States, and has testified before Congress. Dr. Yun has appeared as a guest on CSPAN’s Washington Journal and is a regular guest columnist on the Forbes website and The Hill, an “inside the beltway” publication on public affairs.

Dr. Yun received his undergraduate degree from Purdue University and earned his Ph.D. from the University of Maryland at College Park.