Lawrence Yun Job Quotations

Our experience says prices do not go down when there's job creation in the local economy. In local markets where they are flat on jobs, they could see prices decline. But we're projecting 2.3 million new jobs this year. The job market is providing a buffer. It's a counter force to rising rates.

You're seeing two separate markets. One is in the coastal regions where you're seeing a substantial decline in home sales. The second is in the middle part of the country, in the affordable regions, where the job market is more important than interest rates.

You need a strong job market with people in their 20s moving out of their parents' homes before rents recover.

Any time there's job creation, historically prices don't go down.

In the Midwest, where homes are very affordable and where home prices have risen much slower than the national average, sales are more dependent on job growth in the overall economy.