SAN DIEGO (November 13, 2021) – The outlook for the residential real estate market, which performed exceptionally well during the height of the pandemic, continues to be promising, according to NAR Chief Economist Lawrence Yun.
Yun delivered the assessment yesterday morning at the National Association of Realtors®’ 2021 REALTORS® Conference & Expo(link is external) in San Diego, California.
“All markets are seeing strong conditions and home sales are the best they have been in 15 years, Yun said. “The housing sector’s success will continue, but I don’t expect next year’s performance to exceed this year’s.”
An unknown, he said, is how remote work opportunities will play out in the future and advised that the industry keep that in mind.
“We are only in the first innings of work-from-home options,” Yun said. “People have not fully digested the work-from-home-flexibility model yet in determining home size and locational choice.”