Against the backdrop of a volatile real estate market and the economic chaos caused by a once-in-a-century pandemic, Lawrence Yun was trusted to steer REALTORS® through the turbulence. After taking over as chief economist for the National Association of REALTORS® in 2008 in the midst of the financial crash, he again took on the tremendous challenge of interpreting data in 2021 as the industry navigated a complex, multifaceted recovery from the pandemic along with unprecedented changes in real estate. Providing regular updates and predictions among widespread uncertainty, Yun was able to reach a much larger audience through virtual presentations and events.
The unique hot real estate market that characterized much of 2021 also presented Yun with a host of both challenges and opportunities, putting him in the “front seat” of the housing roller coaster. “It’s been fascinating,” he says, “not only to actively monitor but to passively observe a once-in-a-generation unimaginable home-price gains and the new challenges wrought by such conditions.”