WASHINGTON (September 20, 2011) - 20, 2011Increased lending to creditworthy home buyers and more loan modifications and short sales are necessary to reduce the rising inventory of foreclosed homes and help stabilize and revitalize the housing industry and economy, according to the National Association of Realtors®.
Washington, DC, September 22, 2011
National Association of Realtors® President Ron Phipps released a statement reminding candidates how important home ownership is to the economic and social fabric of our country.
Existing-home sales increased in August, even with ongoing tight credit and appraisal problems, along with regional disruptions created by Hurricane Irene, according to the National Association of Realtors®. Monthly gains were seen in all regions.
Increased lending to creditworthy home buyers and more loan modifications and short sales are necessary to reduce the rising inventory of foreclosed homes and help stabilize and revitalize the housing industry and economy.
Pending home sales declined in July but remain well above year-ago levels, according to the National Association of Realtors®. All regions show monthly declines except for the West, which continues to show the highest level of sales contract activity.
Ten Realtors® were recognized today by the National Association of Realtors® as finalists for REALTOR® Magazine’s 2011 Good Neighbor Awards.
As homeowners across the East Coast brace for Hurricane Irene and the heavy rains that are expected to fall over the next few days, the current threat underscores the importance of flood insurance, which is the only way for homeowners to financially protect their property or businesses from flood damages.
Changes to the mortgage interest deduction could dramatically impact home owners and aspiring home owners in Grand Rapids, Mich., and beyond. That’s just one of the many issues the National Association of Realtors® wants Michigan residents to know about as the Home Ownership Matters Bus Tour pulls into Grand Rapids this week.
Median existing-home prices declined modestly in the second quarter with 27 percent of metropolitan areas experiencing price gains from a year ago, while state home sales declined from the second quarter of 2010.