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This month's Research Webinar features economists from our Quantitative Research Team. NAR's expert economists will discuss the various state- and local-level projects we produce and how you can apply these reports to your everyday business.
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September’s Webinar follows very closely on the heels of our August Webinar. This session features Danielle Hale discussing the First Time Home Buyer Tax Credit at length and discusses the latest development: the credit being used on closing costs. This is very timely information on the credit, which is scheduled to end soon – don’t miss this important update.
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Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in June, rose 3.6 percent to 94.6 from an upwardly revised reading of 91.3 in May, and is 6.7 percent above June 2008 when it was 88.7. The last time there were five consecutive monthly gains was in July 2003.
Lawrence Yun, NAR chief economist, said a combination of positive market factors is fueling the gains. “Historically low mortgage interest rates, affordable home prices and large selection are encouraging buyers who’ve been on the sidelines. Activity has been consistently much stronger for lower priced homes,” he said. “Because it may take as long as two months to close on a home after signing a contract, first-time buyers must act fairly soon to take advantage of the $8,000 tax credit because they must close on the sale by November 30.”
Read the release >
View the Quick Take
View the video >
View Pending Home Sales Index >
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Find your state on the map. Click on the border of your state to get the median property tax and number of households unable to buy a house because of the transfer tax. The estimated number of households impacted is an estimate of the number of households who would be unable to buy a house if the transfer tax increased 1 percent from where it is currently.
View the map >
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The most recent webinar from Research featured George Ratiu’s update on the commercial markets. As a NAR economist covering commercial real estate, he gives an in-depth report on the current market conditions, investment trends and financing issues, as well as looking to the future regarding the commercial market sectors.
Listen to the Webinar >
View the slides >
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Each month, NAR Research will be spotlighting a member who has gone above and beyond in their use of Research data, surveys, and other products. These members are featured for their dedication to market data and in their efforts to get the best and most timely housing information to their customers and to fellow Realtors®. If you think you should be in the spotlight, or know a member that you feel should be spotlighted, please send an e-mail to us at data@realtors.org.
Read about July's spotlighted member >
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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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