An annual event that brings together NAR Presidents-Elect and Chief Staff Executives of the local state associates was held in late August.
During the meeting, NAR Chief Economist Lawrence Yun gave a housing and economic update to attendees. According to the presentation, the NAR projects 1.1 million housing starts for 2014, a number that will increase to 1.4 million in 2015. Another increase is projected to happen in new-home sales, which will total nearly 500,000 in 2014 and then nearly 700,000 in 2015.
