Pending home sales were down slightly in February but remain notably above the pattern in the first half of last year, according to the National Association of Realtors®.
WASHINGTON (May 29, 2012) - Investment home purchases represented nearly one-third of all existing-home sales last year, according to a National Association of Realtors® report on second homes released today. This robust investment activity underscores the importance of limiting the government’s use of real estate owned (REO) bulk sales, as NAR recommended in a letter sent to regulators this week.
February existing-home sales declined from an upwardly revised January pace but are well above a year ago, while the median price posted a slight gain, according to the National Association of Realtors®. Sales were up in the Midwest and South, offset by declines in the Northeast and West.
As the leading advocate for homeownership and housing issues, NAR applauds the Federal Housing Finance Agency for issuing a final rule to restrict Fannie Mae, Freddie Mac and the Federal Home Loan Banks from investing in mortgages encumbered by private transfer fee covenants.
A new study finds that aging baby boomers and their echo boomer children will significantly impact trends in the nation’s housing market over the next 20 years.
The National Association of Realtors® has won a challenge to the use of its trademark Realtor® in a domain name operated by a former member.
Housing affordability conditions have reached the highest level since recordkeeping began in 1970, according to the National Association of Realtors®.
Housing markets are complex and varied, and a government pilot program to turn bank-owned properties into rentals could be disruptive and counterproductive in some markets, according to the National Association of Realtors®.
The National Association of Realtors® recognizes Realtors® who devote themselves to volunteer service through REALTOR® Magazine’s Good Neighbor Awards, which is currently accepting applications.
Pending home sales are on an upward trend, which has been uneven but meaningful since reaching a cyclical low last April, and are well above a year ago.