Lawrence Yun’s Keen Sense of the Obvious

Contracts on existing homes were down in November, prompting NAR to report that the market may not improve tomorrow.

Head soothsayer for the National Association of Realtors, Lawrence Yun, in response to the NAR’s Pending Home Sales Index report that showed a drop in the number of sales contracts entered into on existing homes in November:

“Consumers continue to wait for additional signs of market stabilization. There are more people with financial capacity now than in 2005, but many are trying to market-time their purchase. As a result, the exact timing and the strength of a home sales recovery is a bit uncertain.”

Credit must be given Yun for wising up a bit with his predictions, though. The last line was the smartest thing he has said in a long time. If he keeps this up, he may not have to take that job at the County Fair guessing people’s weight this summer.