Recently, Lawrence Yun, the Chief Economist for NAR was a special guest presenter at the Knoxville Area Association of Realtors annual luncheon.
Dr. Yun shared his research on the current state of the local and national real estate industry and the overall economy. The US economy has been in the longest expansion in the history of the nation and will continue to grow in 2020.
At the beginning of 2019, many economist were warning of impending recession. But, Dr. Yun presented several economic drivers indicating recession is very unlikely in the near term and the economy should be growing at least modestly over the next 4 out of 5 years.
The biggest challenge the housing marketing is facing today and into the foreseeable future is low inventory of residential homes.
Click for Dr. Yun's presentation slides