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On July 28th at 10am, Research will give a Commercial Market Update. This update will feature George Ratiu, a NAR economist covering commercial real estate, who will be discussing current market conditions, investment trends and financing issues, as well as looking to the future regarding the commercial market sectors.
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Pending home sales show a sustained uptrend, rising for four consecutive months with very favorable housing affordability and a first-time buyer tax credit boosting activity, according to the latest survey. The Pending Home Sales Index increased 0.1 percent to 90.7 from an upwardly revised reading of 90.6 in April, and is 6.7 percent higher than May 2008 when it was 85.0. The last time there were four consecutive monthly gains was in October 2004. Lawrence Yun, NAR chief economist, cautions that there could be delays in the number of contracts that go to closing. “Closed existing-home sales have improved but are coming in lower than expected because some contracts are delayed or falling through from the application of new appraisal rules for many transactions,” he said. “Rises in contract activity show buyers are becoming more active even as they face much more stringent loan underwriting standards. Speedy clarification of the appraisal rules could smooth a housing market recovery and support the overall economy.”
Read the release >
View the video >
View Pending Home Sales Index >
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A preliminary analysis indicates that the implementation of the Home Valuation Code of Conduct (HVCC) appears to be having adverse impacts on the housing market. Appraisal issues associated with the implementation of HVCC have recently been in the news. NAR Research has developed information on the subject through a statistically representative survey of the membership.
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IThe most recent webinar from Research featured Paul Bishop in an in-depth discussion of the newly released 2009 Member Profile and how you can use the wealth of information in this user-friendly report to better your business. However, if you missed it, not to worry: the Webinar recording is still available on our website for members, and the PowerPoint slides are available upon request. Make sure you don’t miss out on this important member update.
Listen to the Webinar >
Download the Profile for free >
Order the Profile at cost >
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Research is working to bring NAR members more locally relevant information. We’ve just released three new projects for 2009 that focus on state and local markets. Get insight into the fundamentals and health of your local market. These state and local reports are available free to members.
Read the commentary >
View information on your local market >
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The National Association of Realtors® has been surveying members to find out about their use of technology like websites and blogs for several years. Now, Research, too, has its very own Facebook group, Active Rain and RealTown presences, as well as a presence on Twitter and LinkedIn. Research's social media pages are not only a place for our members to receive insight into our latest surveys, commentaries and reports, but also an avenue for you to make your thoughts known to us and your fellow Realtors®. There may be certain special trends in the marketplace that Research may be unaware of - such as a significant rise in foot traffic at open houses or continuing long delays in getting short sales to close. We'd like this to be an open forum for discussion rather than a one-sided monologue.
Find Research on Facebook >
Find Research on Active Rain >
Find Research on RealTown >
Find Research on Twitter >
Find Research on LinkedIn >
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Report compiled by NAR's Research Division.
Questions about this report? Contact Research at mdunn@realtors.org. |
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