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Late last week, Tobe Holmes, Senior Project Manager with WithersRavenel hosted a panel discussion on reducing barriers and timelines in permitting and land use entitlement through a WithersRavenel’s LandCon event series. I was invited as a panelist along with Shannon Frye, and Patrick Quinn, PE. LinkedIn followers engaged heavily in the reported event and offered positive response to our insights on Charlotte’s development landscape and strategies for enhancing development processes in the region. Key take aways included the need for transparency over simplicity, the risks of resisting growth, and how stake holders can champion livability and affordability through policy and advocacy. In addition, the discussion points circled around:
Charlotte has historically been a favorable environment for development, with community investments leading to a growing tax base, improved services, and sustainable property taxes. It has been a tough few years with some of the recent changes, however, there’s a “new day” ahead.
Acknowledging the political nature of land use, it is crucial for industry stakeholders to advocate for solutions alongside challenges and support candidates who prioritize livability and economic growth through affordability.
Resisting growth also carries consequences, as stagnation can lead to long-term negative outcomes.
Communities striving for high building and design standards benefit from a transparent process, emphasizing the importance of clarity over simplicity.
View the LinkedIn post and follow if you want to be involved in future LandCon events!
My Take: I very much appreciated the opportunity to present and be a part of such an important event. The room was packed, and the participants were engaged on the subject matter. Pat Quinn is knowledgeable and exhibits a great presence. His experience as an engineer provides a great background for his development endeavors. Shannon Frye is a “doer” and a “fixer.” Her common-sense approach to problem solving is a tremendous asset to the City of Charlotte, and I’m hoping its leadership recognizes this. Tobe Holmes did all of the hard work putting the event together and I commend him for his vision in doing so. It was a great event and I’m hoping a few folks came out of it with a renewed sense of wanting to make a difference.
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NAR Chief Economist Lawrence Yun Says Mortgage Rates’ Fast Rise Hurt Housing Market, During REALTORS® Legislative Meetings Economic Forum
WASHINGTON (June 3, 2025) – National Association of Realtors® Chief Economist Lawrence Yun said existing home sales will increase by 6% in 2025 and by 11% in 2026 during the “Residential Economic Issues & Trends Forum” at the NAR 2025 REALTORS® Legislative Meetings. Yun forecasted that new-home sales will rise by 10% in 2025 and by 5% in 2026, the median home price will climb by 3% in 2025 and by 4% in 2026 and that mortgage rates will average 6.4% in the second half of 2025 and 6.1% in 2026.
“The housing market remains very difficult at the moment, as you know,” Yun told a ballroom of real estate professionals. “Part of the delay in recovery is because the Federal Reserve has changed its outlook and appears to be on pause for a longer period.”
In 2024, the Federal Reserve previously forecast that gross domestic product would increase 2.1% and inflation would rise by 2.4%, but it downgraded that forecast in March 2025, lessening its forecast for GDP to rise by only 1.7% and raising its inflation forecast to 2.7%.
“The fast ascent of mortgage rates has really hurt the real estate market,” Yun added.
When it comes to the housing market Yun explained to the audience, “Your past clients are all happy. But for new home buyers, their monthly payment obligation has increased, and this is what’s killing the housing market. Mortgage rates are the magic bullet, and we’re waiting and waiting until those come down.”
Yun explained that inflation was at 2.3% in April, slightly higher than the Federal Reserve’s 2.0% implicit target, stating, “We’re not there yet, but we’re very close. The Fed will cut interest rates once inflation is fully under control.”
On inflation, Yun pointed out that shelter cost is the heavyweight.
“Only the tariffs’ impact is being discussed. What about other forces that are less discussed? There are other forces out there; for example, the shelter component is the biggest weight to the price component. The shelter cost is already coming down from its recent cyclical peak, and it’s trending downward,” he said.
Yun detailed that the U.S. has experienced better job growth since its pre-pandemic highs in 2020. He also explained that wage growth (3.8%)is outpacing the consumer price index (2.3%).
Regarding the housing market, Yun stated, “Home sales have been very difficult over the past two years. We’ve had the lowest home sales in 30 years for two consecutive years.”
“There’s a light at the end of the tunnel based on recent rises in mortgage applications to buy a home,” Yun added optimistically. “Moreover, a solid majority of renters expressed desire to own a home.”
To view Yun’s slide presentation, visit June 2025 Real Estate and Economic Outlook.
My Take: Last week I had the opportunity to attend the annual Legislative Conference held by the National Association of Realtors® in Washington, DC. Dr. Yun presented data and other relevant facts that many would consider dry and boring. Fortunately for the attendees, this information was delivered with just the right amount of humor, which was much appreciated! What struck me most about the event was the fact that I was surrounded by thousands of others who shared a pro economic growth and housing attainability mindset, and most seemed ready, willing, and able to carry that message forward to their representatives at all levels of government!
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