Lawrence Yun, NAR senior economist, says that housing activity continues to be impacted by tighter lending criteria and a lack of buyer confidence. “Some transactions are being postponed from mortgage market disruptions,” he says. “But better supervised lending will put housing in a fundamentally healthier state over the long term.”
“As consumer confidence improves, home sales will rise,” Yun says.
Don’t shoot the messenger…, but feel free to fire at NAR all you want in the comments.
–“NAR: Pending Home Sales Down, Some Regions Up” [Realtor.org]