Hello All -
Just wanted to drop a link to NAR Chief Economist Lawrence Yun's slides from his Residential Economic Issues & Trends Forum in Washington D.C. at the Midyear Legislative Meetings. Every year this is one of the best-attended sessions of the conference. Dr. Yun discussed the Federal Funds rate and its impact on the 30-year fixed mortgage rate. He shared similar trends in monthly mortgage payments to what our data shows. Other topics included tariffs, inflation and the weaker dollar. Job and wage growth remain key components of sustaining a healthy housing market. Presently, wage growth is exceeding CPI growth (inflation). He then went into a national market update and showed a "flickering of light at the end of the tunnel." Delinquency rates are still quite low for both conventional and FHA loans. The new construction segment was spotlighted along with the importance of staging and price cuts based on market times. The session concluded with a brief forecast and a word of caution around our rising debt and deficits.
Here's a Link to his slides. Please feel free to reach out with questions or comments.