CHESAPEAKE, Va. (WAVY) — Real estate experts gathered Tuesday in Chesapeake for the Realtor Broker Summit to hear from one of the nation’s top economic forecasters, even as national housing trends begin to diverge from original expectations.
The summit, hosted by the Hampton Roads Realtors Association, or HRRA, featured Dr. Lawrence Yun, chief economist for the National Association of Realtors. Yun significantly dialed back his 2026 forecast, lowering the year-end growth projection from 14% to just 4%.
Yun attributed the revised outlook to stubborn mortgage rates, which have been impacted by global volatility and the conflict in Iran…