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More than 40 percent of all real estate firms participate in some type of referral program, and one-fifth of all firms have their own affinity programs to generate leads. That and other benchmarking information on referral programs, including affinity, corporate relocation and Internet lead generation, can be found in the 2005 Profile of Referral and Relocation Activity, jointly released by the NAR and Worldwide ERC®, the association for workforce mobility. Read more.
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Get the latest on today's homebuyers and sellers in this new NAR Profile. Do they use the services of a real estate professional? What role does the Internet play? These questions and many more are answered in the 2005 Profile of Homebuyers and Sellers to be unveiled at the National Press Club in Washington, D.C. Jan. 17. Read more (beginning 1/17/06). Visit the Realtor.org Store and Buy it.
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When investors from other countries choose the United States, how is our economy impacted, particularly commercial and residential real estate markets? Find out in NAR's latest report on "Foreign Direct Investment in Real Estate." It examines the level of foreign investment in real estate companies through 2004 (the latest year for which data is available), and includes a breakdown of that activity by country. Read more.
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The U.S. economy continued to show remarkable resilience in 2005 in spite of unprecedented oil price levels, vacilating consumer confidence, and a trio of devastating Hurricanes in the Gulf Coast, Texas and Florida. At the same time, residential real estate once again was the backbone of the U.S. economy, with the nation’s homeownership rate rising to 69 percent. Check out NAR's "2005 Profile of U.S. Real Estate Markets" for all the details. Read more.
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Kitchen and bathroom remodeling projects are returning more of a homeowner’s investment than ever before, according to the "2005 Cost vs. Value Report" published by NAR in REALTOR® Magazine and by Hanley Wood LLC in Remodeling magazine. The average bathroom remodel brings a 102 percent return and the average kitchen remodel brings a 91 percent return. The report includes information provided by REALTORS® about the resale value of common remodeling projects in 58 U.S. housing markets. Read more.
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Job creation and increased trade are shaping the commercial real estate market, according to NAR's latest quarterly commercial real estate report. A strong rise in jobs over the last two years is pushing demand for commercial space, especially in the office sector. Areas with the lowest office vacancies include Ventura County, Calif.; Orange County, Calif.; West Palm Beach, Fla.; New York City; and Fort Lauderdale, Fla., all with vacancy rates of 8.1 percent or less. Take a look at the "Commercial Real Estate Spotlight," and if you're a REALTOR® you also have access to the quarterly in-depth "Views" on the office, retail, multi-family and industrial markets. A new "Office View" was just posted. Read more.
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Pending home sales, a leading indicator for the housing sector, slowed for the third consecutive month demonstrating that a market transition is firmly in place. The Pending Home Sales Index, based on contracts signed in November, slipped 2.5 percent to a reading of 120.6 from 123.7 in October, and is 2.5 percent lower than November 2004. Read more.
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Existing-home sales declined 1.7 percent in November while home prices sustained double-digit annual gains. Higher mortgage interest rates were responsible for moderating sales, but the current pace of sales activity remains historically strong – only eight months have had a higher sales pace. Read more.
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The housing market will balance out in 2006 and return to a more normal rate of price growth. David Lereah, NAR's chief economist, said current trends in the housing sector are healthy. "We don’t need to break a record every year for the housing market to be good – in fact, cooling sales are necessary for the long-term health of this vital sector," Lereah said. "A modest slowdown in home sales, coupled with improvements in housing inventory, means the market is in the process of normalization. That will help to bring balance between home buyers and sellers, yet sales will remain historically strong." Read more.
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Report compiled by NAR's Research Division.
Questions about this report? Contact Research at ljohnson@realtors.org. |
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