Sales are being driven by strengthening fundamentals—the improving jobs picture, rising rental rates, continuing low interest rates and housing affordability—and prices are gaining on reduced supply.
More than they have in the past decade, two-income married couples are fueling today's home buying and selling market, and they are turning to REALTORS® to help them.
Sales of existing homes increased in October, even with some regional impact from Hurricane Sandy, while home prices continued to rise due to lower levels of inventory supply, according to the National Association of Realtors®.
NAR's 2012 Home Buyer and Home Seller Survey shows a strengthening in the older, married, higher-income, move-up buyer market. Read more to find out why.
The median down payment provided by home buyers dropped this year to its lowest level since 2009.
National trends don't always show up at the local level, researchers warn practitioners.
Even as the fundamentals in the residential real estate market improve, the commercial sector is "hobbling to recovery," said NAR Chief Economist Lawrence Yun at the REALTORS® Conference & Expo's Commercial Real Estate Forum.
Dual income households are comprising a greater portion of the housing market and helping sales recover, according to an annual study released today.
The commercial real estate market continues to recover at a sluggish pace. However, commercial real estate remains a solid investment, according to NAR.
The housing market recovery should continue through the coming years, assuming there are no further limitations on the availability of mortgage credit or a "fiscal cliff," according to forecast presentations at a residential forum here at the 2012 Realtors® Conference and Expo.