Realtor Conference Lawrence Yun 007Headlines everywhere are touting how rising rates are slowing down the real estate market.  The experts jump to conclusions, and the media loves bad news.  One of our favorites is front and center today – Lawrence Yun.  From cnbc.com:

“The modest decline in sales is not yet concerning, and contract activity remains elevated, with the South and Midwest showing no measurable slowdown,” NAR chief economist Lawrence Yun said in a statement. “However, higher mortgage interest rates and rising home prices are impacting monthly contract activity in the high-cost regions of the Northeast and the West.”

Mortgage rates are the same everywhere, and your location isn’t what determines whether sellers and buyers are coming together.

Experts postulate about who or what to blame, and not on how to fix it.

You can blame any reason on the list for fewer sales:

  • Rising rates (they have stalled)
  • Low inventory
  • Tight credit
  • Investors/Wall Street
  • Syria
  • Government
  • Builders
  • Realtors
  • Chargers
  • Padres
  • Jim the Realtor

If Lawrence Yun was actually a realtor and looked a little deeper – or the media would ask more questions – then eventually the reason that pendings are down anywhere would be discovered:

Sellers aren’t adjusting their price enough to satisfy the buyers.

Lawrence Yun and others are always quick to blame external events, but as our spokesman, he should offer the solution – price will fix everything!

Yunnie, can you give us a hand here!

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