Market Insight from NAR Chief Economist Lawrence Yun

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According to NAR Chief Economist Lawrence Yun, “Home prices have been setting record after record, making this a great time to be a homeowner. Unlike stocks and bonds, which have fallen sharply this year, U.S. home prices have kept on rising.

If you’re rushing out to buy a home today because you’re hoping to turn a big, quick profit, you’re likely to be disappointed. But if you’re thinking long-term and buying a home to have a stake in our economy and be an owner rather than a renter, the value of your equity will likely grow gradually even if home prices rise only modestly over the years.”

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