24
Ask the
Economist
Joseph
Kirchner, Ph.D.
Senior Economist, Realtor.com
oseph Kirchner is a Senior
Economist for Realtor.com, leading
the organization's economic and
housing market research, analysis,
and forecasting since March 2015. He
has more than 30 years' experience in
policy research and has led projects
for HUD, the Department of Labor, the
Department of Agriculture, the United
Nations, and Health and Human Services.
He holds a doctorate in economics from
the New School for Social Research and a
bachelor's degree in political science and
economics from Manhattanville College.
The National Association of Realtors'
most recent pending home sales report
(covering February) shows an uptick in
sales. What is driving this increase? I
was surprised that it went up significantly. We
thought it would rise, but this month's rise was
the second highest in a long time. April of last
year was slightly higher; it was the peak since
the recession. is month is almost that high,
so that's really good news—especially as we're
going into the spring market.
I'm not going to get too excited, though.
I'm always a bit cautious. As an economist, I
know the numbers go up and they come down
and you really need to focus on the trend. e
