Insights | Real Estate Research | ||
| In This Issue: Thursday, December 15, 2005 | |||
WHAT'S NEW |
Balloons Not Bubbles! |
| Rather than housing bubbles, NAR's Chief Economist David Lereah likens today's housing markets to balloons. “Balloons don’t burst,” he says. “You can put air in a balloon and it expands or you can take air out and it shrinks. We’re hearing a hissing sound not a pop…there’s a soft landing ahead.” Read more. |
More Anti-Bubble Market Reports! |
| Five more markets have been added to NAR's Market-by-Market Home Price Analysis Reports-- Pittsburgh, PA; Barnstable Town, MA; Worcester, MA; Durham, NC; and Raleigh-Cary, NC. A total of 135 market reports are now available. Access the reports. |
LATEST HOUSING RELEASES |
Pending Home Sales Index Shows Market Easing |
| The Pending Home Sales Index, a leading indicator for the housing market, dropped 3.2 percent to 123.8 in October -- the lowest since March. The index is based on pending sales of existing homes. NAR Chief Economist David Lereah said: “The drop in pending home sales is an affirmation that we are experiencing a modest slowing in the housing sector. The index is pointing to a soft landing for home sales, which will help to correct the inventory shortages that have dominated housing over the last five years." This should restore balance to the market, he said. Read more. |
Historically Strong Home Sales Expected in 2006 |
| The housing market for 2005 is headed for a fifth consecutive annual record, and sales activity in 2006 is expected to be the second best year in history. Market conditions are still favorable for housing. “The slowdown amounts to a tapping of the brakes on a hot market,” said NAR Chief Economist David Lereah. “Home sales are coming down from the mountain peak, but they will level-out at a high plateau – a plateau that is higher than previous peaks in the housing cycle,” he added. Read more. |
HOLIDAY SALE! |
Tis' the Season to Save on Your Favorite NAR Research |
| Take advantage of holiday savings on select NAR Research Profiles and Products. NAR members can save up to 20% through Dec. 31. Celebrate the end of the year with valuable tools for your success at holiday sale prices! Go to the Realtor.org Store. |
***** May the Magic of the Season Be Yours |
Report compiled by NAR's Research Division. Questions about this report? Contact Research at mdunn@realtors.org. |
| Useful Info |
|
Buy Research
Research Product Store |
|
Commercial Research
Office, Retail, Industrial & More |
|
Real Estate Insights
Commentaries, Forecasts and Articles |
|
NAR News
News Releases |
|
Contact Research Staff
Directory |