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NAR: “The Home Price Growth Is Too Fast”


When I saw this quote by Lawrence Yun, NAR chief economist [2] two weeks ago in the Existing Home Sale Press Release, I was surprised. I didn’t write about it but ran into someone a few days ago who pointed out the same thing so I was inspired.

The home price growth is too fast, and only additional supply from new homebuilding can moderate future price growth.

My reaction:

  1. I agree that price growth is too fast. Incomes are stagnant.
  2. This partially makes up for him classifying the housing slowdown as temporary [3] back in 2007.
  3. When someone who is generally biased towards the positive, goes negative, that’s a red flag.