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Chief Economist addresses economy, real estate outlook 
Dr. Lawrence Yun, Chief Economist for the National Association of Realtors®, recently spoke about the current economic and real estate outlook at the York County Economic Alliance’s Economics Club breakfast. Overall, he said the view of the economy is a “mixed bag.” But, he did note we are “well out of the recession,” and the economy has been mostly positive since then. In real estate, rents are rising, and are currently at a seven-year high. More people are renting, with fewer vacancies available. However, he said annual home sales are “on a steady upward path,” and he predicts more buying activity is in the near future. He added that even with mortgage rates being 4 to 5 percent, “they are still great rates, and still affordable in most of America.” He also predicted that more people will qualify for mortgages.
Source: PARJustListed; 5/29/2015