Written by Joe Balestriere
Dr. Lawrence Yun visited Norwalk CT on May 22, last Wednesday, and gave the Realtors of this area some insight into what the National Association of Realtors (NAR) and their economists were thinking about the state of the market and economy at large. Dr. Yun is the Chief Economist for NAR, a lobby organization for Realtors. In essence, he is the main spokesperson for the state of the real estate market across the country.
Here, I have summarized the presentation for our followers, or those who are curious about the state of the market, and that of the market in Connecticut. I have also given his conclusions, as well as my own conclusions at the end of this (long) blog post.
Cutting to the conclusion, Dr. Yun has indicated that he doesn’t believe the real estate market will take a serious hit and doesn’t predict an economic recession, especially as hard-hitting as the 2008 recession. I believe that this analysis was done in a vacuum and doesn't factor larger current events that will affect these conclusions.
Here is the presentation from my notes, with some of the slides as aids. Note that my commentary is in GREEN.
We (Joe and Chris Balestriere) are Realtors in Fairfield County, Connecticut. Our blog is meant to educate buyers and sellers and equip them with tools to get the most out of their Realtor, whether it is us or someone else. We focus on technology and how it enhances the work we do for our clients--we are not top CT Realtors by accident.