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<!-- Start master table with navigation --> <table width="530" border="0" cellpadding=0 cellspacing=0> <tr valign="top" align=left> <td colspan="3"> <!-- Start top banner logo --> <table width=507 border=0><tr valign=top align=left><img src="http://www.realtor.org/research.nsf/researchnewslogo.gif" alt="NAR's Research Update logo"></a></td></tr></table> <!-- Start navigation buttons, issue and issue date --><tr align=left><td valign="top" border=0><table border=0 cellpadding=0 cellspacing=0 width=507><tr><td class="nav2" bgcolor="#512549" width="115"><center><a class="nav2" style="font-family : Arial, Helvetica, sans-serif; font-weight: bold; font-size: 11px; color: #ffffff; background-color: #512549; text-align:center; padding: 2px 2px 2px 2px; text-decoration:none" href="http://www.realtor.org/research.nsf/pages/EHSPage?OpenDocument">Existing Home Sales</a></center></td><td class="nav2" bgcolor="#512549" width="100"><center><a class="nav2" style="font-family : Arial, Helvetica, sans-serif; font-weight: bold; font-size: 11px; color: #ffffff; background-color: #512549; text-align:center; padding: 2px 2px 2px 2px; text-decoration:none" href="http://www.realtor.org/Research.nsf/Pages/PHSdata">Pending Home Sales Index</a></center></td><td class="nav2" bgcolor="#512549" width="132"><center><a class="nav2" style="font-family : Arial, Helvetica, sans-serif; font-weight: bold; font-size: 11px; color: #ffffff; background-color: #512549; text-align:center; padding: 2px 2px 2px 2px; text-decoration:none" href="http://www.realtor.org/reinsights">Real Estate <br>Insights</a></center></td><td class="nav2" style="font-family : Arial, Helvetica, sans-serif; font-weight: bold; font-size: 11px; color: #ffffff; background-color: #512549; text-align:center; padding: 2px 2px 2px 2px; text-decoration:none" bgcolor="#512549" width="157"><center><a class="nav2" href="http://www.realtor.org/ncrer.nsf/pages/ncrerhome?OpenDocument">National Center for<br>Real Estate Research</a></center></td></tr><tr align=left width=507><td colspan=4 class="issue" valign="top" bgcolor="#999999" width=507>In This Issue:
Wednesday, April 15, 2009
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LATEST DEVELOPMENTS
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Gain Seen in Pending Home Sales, Housing Affordability Sets New Record
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Pending home sales have edged up, hinting at a possible pickup of sales activity in coming months, according to the National Association of Realtors®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in February, rose 2.1 percent to 82.1 from a reading of 80.4 in January, but is 1.4 percent below February 2008 when it was 83.3. Lawrence Yun, NAR chief economist, said the market is continuing to underperform. “Pending home sales have a way to go for there to be a meaningful increase, but recent increases in shopping activity are hopeful indicators that we’ll see additional sales gains,” he said. “More buyers are getting into the market to take advantage of stimulus incentives and much improved housing affordability conditions, but it will take a few months before we could see this turn up in measurable sales contract activity.”<br>
<A HREF="http://realtors.org/press_room/news_releases/2009/04/phs_gain">Read the release ></A><br>
<A HREF="http://link.brightcove.com/services/player/bcpid16892347001?bclid=9230987001&bctid=18134504001">View the video ></a><br>
<A HREF="http://www.realtor.org/Research.nsf/Pages/PHSdata">View Pending Home Sales Index ></a>
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Commercial Real Estate
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The recession continues to take a toll on the commercial real estate sector. In this series of Economists' Commentaries, Research details the latest developments in the Retail and Multifamily Sectors. <br>
<A HREF="http://www.realtor.org/research/economists_outlook/commentaries/retail_investment0309 ">Retail Investment ></A><br>
<A HREF="http://www.realtor.org/research/economists_outlook/commentaries/multifamily0309 ">Multifamily Fundamentals></A><br>
<A HREF="http://www.realtor.org/research/economists_outlook/commentaries/multifamily_invest0409 ">Multifamily Investment></A><br>
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Right Tools, Right Now
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To help Realtors® meet their clients’ needs and succeed in today’s economic climate, the National Association of Realtors® is offering its roster of business-building resources to members for free or at significantly reduced costs through the association’s new “Right Tools, Right Now” initiative. Research is doing its part by offering many of its surveys, profiles, and other products free or at cost to members. Every month new products become available to members, so keep checking back. This is a can’t-miss opportunity to get the tools you need from Research.<br>
<A HREF="http://www.realtor.org/prodser.nsf/products/186-45-08?OpenDocument">Download the 2008 Home Buyer and Seller Survey for Free ></A><br>
<A HREF="http://www.realtor.org/prodser.nsf/products/E186-71?OpenDocument">Download the latest Relocation Reports for Free ></A>
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NEW RESEARCH RESOURCES FOR YOU
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New: The Economists' Outlook!
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Earlier this month, Research introduced a new information center that focuses on economic news and views for Realtors®. New content is added to these easy to navigate pages every day, including video updates, “quick takes” on the latest economic trends and indicators, and unique snapshots of interesting housing information you may not have known. Find out what NAR's experts are saying about the economy, the housing market, and other factors impacting your business and your life. </br>
<A HREF="http://realtors.org/research/economists_outlook/introduction">Visit Economists’ Outlook ></A> </br>
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Metro Area Wealth Gain for Homeowners: 2009
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How has the wealth of current homeowners changed as a result of home ownership? One way to answer that question is to create a snapshot of the equity individuals who purchased a home at the median price 5, 10, 15, and 20 years ago would have built up if they had kept that home through 2008. We did that for 154 metropolitan statistical areas (MSAs), and the findings yield some expected and unexpected results. Find out how your metro area is doing in these local reports.</br>
<A HREF="http://realtors.org/research/subscription_data/09metroareawealthgainreports">Find your metro area ></A><br>
<A HREF="http://realtors.org/research/economists_outlook/commentaries/wealth_gain0409">Read the commentary ></A>
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Are you Registered for the Midyear Meetings?
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Research will be holding a session at the Midyear meetings in which Lawrence Yun will be taking a hard look at some current economic questions. Are record high housing affordability conditions and new tax incentives enough to end the housing recession soon? What about the economy? Why are sales in some local markets surging with multiple bids on a single property? NAR’s Chief Economist will discuss the current dynamics of the U.S. economy and housing market and the impact of the U.S. government’s actions. Come hear NAR’s expert forecast tomorrow’s market trends today and learn how these trends will impact your business. </br>
<A HREF="http://www.realtor.org/midyear.nsf/pages/homepage">Register now ></A>
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<i>Read daily commentaries by NAR economists on the latest developments in the real estate market. </i><br>
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<A HREF="http://www.realtor.org/prodser.nsf/products/E186-71?OpenDocument#detail">Read more ></A>
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<!-- Story --> <tr><td class="blacktext"><br>Report compiled by NAR's Research Division.<BR><BR>Questions about this report? Contact Research at <a class="contact" href="mailto:mdunn@realtors.org">mdunn@realtors.org</a>. </td></tr>
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Useful Info
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Research Store
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<A HREF="http://www.realtor.org/prodser.nsf/pwebres?OpenView&count=1000">Research Product Store</A>
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NAR RealtyCheck
</span><br>
<A HREF="http://www.realtor.org/realtycheck.nsf">Custom Research</A>
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Commercial Real Estate
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<A HREF="http://www.realtor.org/research.nsf/pages/commercialhome">Commercial Outlook</A>
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Reports by Topic
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<A HREF="http://www.realtor.org/research.nsf/pages/topicreports?OpenDocument">Find the Research You Want</A>
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Real Estate Insights
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<A HREF="http://www.realtor.org/reinsights">Commentaries, Forecasts and Articles</A>
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NAR News Releases
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<A HREF="http://www.realtor.org/press_room/news_releases/index.html">News Releases</A>
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Contact Research Staff
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<A HREF="http://www.realtor.org/Research.nsf/Pages/Contact?OpenDocument">Directory</A>
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