National Association of Realtors® Predicts Slow Spring Buying Season

According to the results of the National Association of Realtor® (NAR) Economic Pulse Flash Survey, which was conducted on April 5^th & 6^th and generated responses from 5,855 NAR members, 59% of respondents said buyers were delaying home purchases for the next few months and 57% reported sellers were delaying the listing of their homes over the same period. In prepared remarks, Lawrence Yun, NAR’s chief economist, predicted a rough spring for housing market but did not foresee long-term problems. Yun went on to say, “Home prices will remain stable because of a pandemic-induced reduction in inventory coupled with less immediate concerns over foreclosures.”