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As baby boomers head for their golden years, they are making a mighty impact on today's housing market -- but not always in ways you'd think. NAR's 2006 "Baby Boomers and Real Estate: Today and Tomorrow" illustrates that most baby boomers plan to retire in the same region where they now live, if they retire at all! In fact, over half of boomers would not consider living in an age-restricted community. Boomers are NOT a homogenous group, but they agree on seeking expert services from real estate professionals -- especially those with an Internet presence. REALTORS®, rev up your web age -- here they come!
View the survey highlights presented at NAR's Midyear Meetings.
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Fast-growing international trade means more foreign companies and foreign workers are relocating to the United States. At the same time, an increasing number of U.S. businesses are opening offices abroad. In short, conditions are ripe for engaging in international property brokerages. Find out what's happening where you live and work. These downloadable 13-page reports look at international business activity by state, including the number of foreigners arriving from various countries, homeownership rates and top exports. Read more>
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Healthy demand for space is driving commercial real estate markets with solid fundamentals and strong investment activity, according to NAR's latest Commercial Real Estate Outlook. Conditions are improving as vacancies tighten. Rent growth in commercial space is gaining traction, although there is some softness in part of the retail sector. Commercial real estate remains a bright spot in the economy, but there are concerns over energy costs, rising interest rates and slower-than-expected job growth which could dampen future demand. Read more>
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NAR's leading indicator for the commercial real estate market shows commercial sectors will continue to improve during the balance of the year.
During the first quarter, the Commercial Leading Indicator for Brokerage Activity was at 118.9, rising 0.8 percent from an upwardly revised reading of 118.0 in the fourth quarter. The index is 2.7 percent higher than the same time a year ago. This marked four straight quarters of growth, with improvement seen in 10 of the last 11 quarters. Absorption of commercial space is outpacing the level of new space coming on line, which helps to explain a record flow of funds into commercial real estate last year.Read more>
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Another hurricane season is upon us -- reigniting fears about the long-lasting and far-reaching damage these storms can cause. A recent NAR study commissioned by the Florida Association of REALTORS® looks at that state's hurricane experience and how a national disaster insurance program could benefit residents in hurricane-prone areas, as well as those in areas where earthquakes, tornadoes and wildfires occur. Read more>
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A surprising number of second-home owners -- about six in ten -- own multiple properties. Twenty-one percent of vacation-home owners own two or more vacation homes, while 34 percent of vacation-home owners own two or more investment properties. At the same time, more than half of investment property owners own at least two investment homes. Find out more about this active market segment in NAR's 2006 Profile of Second-Home Owners. Read more>
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Pending home sales, the leading indicator for the housing sector, are continuing to ease. The Pending Home Sales Index, based on contracts signed in April, fell 3.7 percent to a level of 111.8 from an index of 116.1 in March, and is 11.7 percent below April 2005. This marks the third consecutive monthly decline. David Lereah, NAR’s chief economist, explains: "We’re in a period of transition. Pending homes sales probably give us the best measure for the overall direction of the housing market, which is falling from historical highs,” he said. “Home sales will level out toward the end of the year. Over time, homeownership remains the best investment a family can make.” Read more>
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Existing-home sales eased in April on the heels of a two-month rebound as interest rates continued to creep up. Total existing-home sales – including single-family, townhomes, condominiums and co-ops – slipped 2.0 percent to a seasonally adjusted annual rate of 6.76 million units in April, and were 5.7 percent below the 7.17 million-unit pace in April 2005. NAR analysts called this another sign of a soft landing for the housing sector, which remains at historically high levels. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 6.51 percent in April, up from 6.32 percent in March; the rate was 5.86 percent in April 2005. Read more>
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As summer fast approaches, NAR Research turns its attention to our flagship survey of buyers and sellers. We are recruiting oversample participation for the 2006 Home Buyers and Sellers Survey. Oversampling on national surveys allows your organization to be the quintessential expert in your service area. Over the years many state and local associations have taken advantage of this opportunity. Don't miss out! Sign up for 2006 NAR Home Buyers and Sellers Survey Today! Contact: TJ Doyle, (tdoyle@realtors.org).
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US houseStats is the complete electronic data collection and reporting solution for REALTOR® Associations. Upload listing data in an easy-to-use, secure web-based interface, track home sales and receive monthly housing market reports from NAR. View/download the flyer. (434K pdf)
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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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