The U.S. housing market had another scorcher of a year in 2021, aided by low mortgage rates, a swell of demand that outstripped supply and a rebounding job market. The trends point to another solid year for the housing market, even as it remains especially challenging for first-time buyers, says Lawrence Yun, chief economist for the National Association of Realtors.
Yun recently spoke to The Associated Press about what homebuyers and sellers can expect as the upcoming spring home-buying season begins. The interview has been edited for length and clarity.
Read the interview here.