In this video, NAR Chief Economist Lawrence Yun says that although Pending Home Sales numbers are down from last month, they are still healthy, which means that the housing market is still in recovery.
He also talks about the influence of the Federal Reserve on the housing market, how the rise in rents relates to interest rates and homeownership, and the possibility that the low rate of mortgage loan defaults could cause the banking and finance sector to offer more loans, opening potential for increased home purchases.