NAR Chief Economist Lawrence Yun shared insights at the recent National Association of Realtors’ national conference.
- A housing crash is not on the horizon. Yun says controls around subprime lending, low mortgage rates, and demand from qualified buyers will keep a collapse at bay.
- Mortgage rate hikes will be manageable. Mortgage rates have been climbing over the past months with 30-year fixed rate at 3.21%. Most buyers still benefit from this low rate.
- First-time buyers may get some needed help. Lawmakers are taking legislative measures to bolster down payments.
- An inventory boost is coming.
- Don’t worry too much about inflation. Home values are generally a good hedge against inflation. Yun said real estate is still a safe bet.
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