NAR's Chief Economist Ranks High Among Other Forecasters

USA Today ranked chief economist Lawrence Yun of the National Association of Realtors (NAR) as one of the top ten economic analysts. Using the help of the Federal Reserve Bank of Atlanta, the publication determined the most accurate economic forecasters among those surveyed. Yun is responsible for the NAR’s real estate statistics, making his accuracy the basis for which the association relies on.

Background On The NAR’S Chief Economist

Yun received a B.S. degree in mechanical engineering from Purdue University in 1985 before earning his Ph.D. in economics from the University in Maryland in 1995.

While he was a research associate, Yun taught an economics course dealing with the transition of the Soviet Union from communism to free-market economics.

Before becoming a part of the NAR, Yun was an economic consultant to the Department of Veteran Affairs. In 2007, seven years after Yun joined the NAR and helped lead the way for the development of the Commercial Leading Index and the residential Pending Home Sales Index, he was named chief economist and senior vice president of the organization.

National Association Of Realtors As Researchers

Yun’s recognition as a top economist not only helps his own career, but it helps elevate NAR as a whole. Additionally, his predictions prove NAR's reputation as the leader in housing research.

NAR has 1.3 million members in the field of real estate and commercial development, making it the largest trade association in America. As a result, the clout behind Yun enhances the importance of the organization as a researching facility as well as a trade group.

As far as what lies ahead, Yun admits to the housing crisis, but without making any bold claims. “The economy and housing industry are facing many challenging issues at this time,” said Yun, “which makes this an interesting and stimulating position.”