Lawrence Yun

Last updated
Lawrence Yun
Yun lawrence.jpg
Born
Suncheon, South Korea
Education Purdue University (BS)
University of Maryland, College Park (MA, PhD)

Lawrence Yun is a Chief Economist and Senior Vice President of Research at the National Association of Realtors.

Contents

Early life

Yun was born in Suncheon, South Jeolla Province, South Korea. While Yun was a child, his family moved to Columbia, South Carolina. [1]

Education

In 1987, Yun earned a Bachelor of Science degree in Mechanical Engineering from Purdue University. In 1995, Yun earned a PhD degree in economics from University of Maryland, College Park. [2] [3]

Career

In 1999, Yun was an economic consultant to the U.S. Dept. of Veterans Affairs and U.S. Dept. of Education. [1]

In 2000, Yun joined the National Association of Realtors (NAR) as a junior economist. In 2007, Yun became the chief economist and senior vice president of research at National Association of Realtors. [1] [2] Yun oversees the production of existing home sales statistics and the popular Home Buyer and Home Seller survey reports. He regularly appears on CNBC, BBC, Bloomberg Television, and is often quoted in the media. [4] [5] As was his predecessor David Lereah at the NAR, Yun has been criticized for his overly optimistic predictions on the housing market. [6]

Yun is also a frequent speaker at Real Estate conferences throughout the United States. In March 2008, USA Today listed him among the top 10 economic forecasters in the country. [7] At the time, when most economists were calling for another major declines in the housing market, Yun predicted that the housing market could stabilize with a home buyer tax credit. Yun had indicated that 2009 was a good time to buy given the continued population growth. The median home price in 2009 was $172,100, while the bottom was set in 2011 at $166,200. But given that today’s median home price is above $400,000 [8] , those that bought homes in 2009 would have come out quite well.

Yun appears regularly on financial news outlets, is a frequent speaker at real estate conferences throughout the United States. Yun appears often as a guest on CSPAN's Washington Journal and is a regular guest columnist on the Forbes online.

In March 2012, Yun testified as a chief economist before Congress' sub-committee hearing. [9]

In 2025, the Wall Street Journal congratulated him for having one of the closest forecasts for 2024. [10]

While a research associate at the University of Maryland from 1995 to 1998 with the funding from the United States Agency for International Development, Yun helped develop a graduate economics curriculum and lectured at several universities in the former Soviet Union as that country transitioned from communism to a market-based economy.

Personal life

Yun's wife is Alla. They have one son. Yun resides in Arlington, Virginia. [1] [2]

See also

References

  1. 1 2 3 4 Carry, Pete (May 31, 2014). "Q&A: Lawrence Yun, voice of residential real estate, doesn't see a bubble". siliconvalley.com. Retrieved July 14, 2019.
  2. 1 2 3 "NAR Names Lawrence Yun Chief Economist". rismedia.com. November 6, 2007. Retrieved July 14, 2019.
  3. ↑ "Lawrence Yun". justice.gov. 25 June 2015. Retrieved July 14, 2019.
  4. ↑ Mantell, Ruth (October 8, 2008). "Pending home sales index rises 7.4% in August". MarketWatch. Retrieved 2008-10-11.
  5. ↑ Gary, Alex (February 22, 2008). "Real-estate researcher believes 'fear' is hurting housing market". BusinessRockford.com. Archived from the original on September 9, 2012. Retrieved 2008-07-11.
  6. ↑ Coy, Peter (January 24, 2008). "Realtors' Lawrence Yun walks on the yunny side of the street". Hot Property at Business Week. Archived from the original on February 2, 2008. Retrieved 2008-07-11.
  7. ↑ Hagenbaugh, Barbara; Hansen, Barbara (March 17, 2008). "Economist expects Fed to cut rates at least a half-point". USA Today.
  8. ↑ "Existing-Home Sales". www.nar.realtor. 2025-06-23. Retrieved 2025-07-21.
  9. ↑ "Subcommittee Hearing: The Pros and Cons of Making the Census Bureau's American Community Survey Voluntary". oversight.house.gov. March 6, 2012. Retrieved July 14, 2019.
  10. ↑ DeBarros, Peter Santilli and Anthony. "Economists Tell Us Their Forecasts for Recession Risk, Growth and Inflation". WSJ. Retrieved 2025-07-21.
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