A gloomy forecast for NAR as the membership heads south

Key Points

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After a 2.1 percent yearly membership decline last month, National Association of Realtors (NAR) blares warning sirens.

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The nightmarish portent comes straight from the mouth of NAR’s Chief Economist, Lawrence Yun, whose predictions do anything but sugarcoat the situation.

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A continued dip in the membership over the next two years seems to be the next item on NAR’s agenda. Thanks to Yun, we see this unfortunate eventuality heading our way faster than a discount shopper on Black Friday.

Hot Take

In a turn of events more dramatic than a season finale of Game of Thrones, NAR’s membership is taking a plunge. Lawrence Yun, the grand oracle of NAR, has traded his crystal ball for a grey cloud forecasting a future that nobody wants to RSVP to. It’s kind of like watching a real estate version of the Titanic, only this time it’s the membership that’s sinking faster than the infamous ship. Laugh or cry, this sale doesn’t look good at all.

The next two years seem to be a steep downhill run with no stopping point in sight. Let’s just hope there’s a trampoline or an ultra-stretchy bungee cord at the bottom. But hey, let’s look up at the silver lining (we’re optimists here), maybe this will push NAR to refresh their approach. After all, isn’t pressure supposed to create diamonds? At this point, the NAR could use a little sparkle.

Original article: https://www.inman.com/2024/02/06/nar-signals-more-declines-to-come-after-3rd-straight-membership-dip/