Research and Statistics

"Despite mixed macroeconomic signals... home sales were modestly boosted... due to mortgage rates decreasing from recent highs and average income growth outpacing home price gains," says NAR Chief Economist Dr. Lawrence Yun.

“Contract signings rose in March despite higher mortgage rates, pointing to pent-up housing demand. A greater supply of inventory will help translate that demand into more home sales. A good number of markets in the South experienced price cuts over the past year but recorded the strongest job growth. That combination should lead to stronger housing market activity in the South this year,” NAR Chief Economist Lawrence Yun summarized.