# Lawrence Yun
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{{short description|American economist}}
{{Infobox person
|name = Lawrence Yun
|image = Yun lawrence.jpg
|birth_date =
|birth_place = [Suncheon](/source/Suncheon), [South Korea](/source/South_Korea)
|death_date =
|death_place =
|education = [Purdue University](/source/Purdue_University) ([BS](/source/Bachelor_of_Science))
[University of Maryland, College Park](/source/University_of_Maryland%2C_College_Park) ([MA](/source/Master_of_Arts), [PhD](/source/Doctor_of_Philosophy))
}}
'''Lawrence Yun''' is a Chief Economist and Senior Vice President of Research at the [National Association of Realtors](/source/National_Association_of_Realtors).
== Early life ==
Yun was born in [Suncheon](/source/Suncheon), [South Jeolla Province](/source/South_Jeolla_Province), South Korea. While Yun was a child, his family moved to [Columbia, South Carolina](/source/Columbia%2C_South_Carolina).[{{cite web |url=https://www.siliconvalley.com/2014/05/31/qa-lawrence-yun-voice-of-residential-real-estate-doesnt-see-a-bubble/ |title=Q&A: Lawrence Yun, voice of residential real estate, doesn't see a bubble |publisher=siliconvalley.com |first=Pete |last=Carry |date=May 31, 2014 |access-date=July 14, 2019}}]
== Education ==
In 1987, Yun earned a Bachelor of Science degree in Mechanical Engineering from [Purdue University](/source/Purdue_University). In 1995, Yun earned a PhD degree in economics from [University of Maryland, College Park](/source/University_of_Maryland%2C_College_Park).[{{cite web |url=https://rismedia.com/2007/11/05/nar-names-lawrence-yun-chief-economist/ |title=NAR Names Lawrence Yun Chief Economist |publisher=rismedia.com |date=November 6, 2007 |access-date=July 14, 2019}}][{{cite web |url=https://www.justice.gov/atr/biography-lawrence-yun |title=Lawrence Yun |date=25 June 2015 |publisher=justice.gov |access-date=July 14, 2019}}]
== Career ==
In 1999, Yun was an economic consultant to the [U.S. Dept. of Veterans Affairs](/source/United_States_Department_of_Veterans_Affairs) and [U.S. Dept. of Education](/source/United_States_Department_of_Education).[{{cite news |first=Ruth |last=Mantell |title=Pending home sales index rises 7.4% in August |url=http://www.marketwatch.com/news/story/pending-home-sales-index-rises/story.aspx?guid={AC6E09EB-9D5A-4139-9542-8C514DB37764}&dist=hpmp |work=MarketWatch |date=October 8, 2008 |access-date=2008-10-11 }}][{{cite news |first=Alex |last=Gary |title=Real-estate researcher believes 'fear' is hurting housing market |url=http://www.rrstar.com/homepage/x1907842716 |archive-url=https://archive.today/20120909014144/http://www.rrstar.com/homepage/x1907842716 |url-status=dead |archive-date=September 9, 2012 |work=BusinessRockford.com |date=February 22, 2008 |access-date=2008-07-11 }}] As was his predecessor [David Lereah](/source/David_Lereah) at the NAR, Yun has been criticized for his overly optimistic predictions on the housing market.
[{{cite news |first=Peter |last=Coy |title=Realtors' Lawrence Yun walks on the yunny side of the street |url= http://www.businessweek.com/the_thread/hotproperty/archives/2008/01/realtors_lawren.html |archive-url= https://web.archive.org/web/20080202011250/http://www.businessweek.com/the_thread/hotproperty/archives/2008/01/realtors_lawren.html |url-status= dead |archive-date= February 2, 2008 |work=Hot Property at Business Week |date=January 24, 2008 |access-date=2008-07-11 }}]
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.[{{cite news |first=Barbara |last=Hagenbaugh |author2=Hansen, Barbara |title=Economist expects Fed to cut rates at least a half-point|url=https://www.usatoday.com/money/economy/2008-03-16-top-economist_n.htm |work=USA Today |date=March 17, 2008 }}] 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,[{{Cite web |date=2025-06-23 |title=Existing-Home Sales |url=https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales |access-date=2025-07-21 |website=www.nar.realtor |language=en}}] 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.[{{cite web |url=https://oversight.house.gov/legislation/hearings/hearing-documents-for-march-6-subcommittee-hearing-on-census-bureaus-american |title=Subcommittee Hearing: The Pros and Cons of Making the Census Bureau's American Community Survey Voluntary |publisher=oversight.house.gov |date=March 6, 2012 |access-date=July 14, 2019}}]
In 2025, the Wall Street Journal congratulated him for having one of the closest forecasts for 2024.[{{Cite web |last=DeBarros |first=Peter Santilli and Anthony |title=Economists Tell Us Their Forecasts for Recession Risk, Growth and Inflation |url=https://www.wsj.com/economy/economists-outlook-recession-gdp-pce-unemployment-00d35eb3 |access-date=2025-07-21 |website=WSJ |language=en-US}}]
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](/source/market_economy).
== Personal life ==
Yun's wife is Alla. They have one son. Yun resides in Arlington, Virginia.