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Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1. The index is at the highest level since June 2007 when it was 100.7. Lawrence Yun, NAR chief economist, said the housing market momentum has clearly turned for the better. “The recovery is broad-based across many parts of the country. Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit,” he said.
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View Pending Home Sales Index >
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We live in a global marketplace. While all real estate is local, not all property buyers are. A significant share of home purchases are made by people whose primary residence is outside of the U.S. Find out which are the top five countries of origin for foreign home buyers and how these buyers are utilizing the services of REALTORS®, and watch Managing Director of Quantitative Research Jed Smith explain the findings.
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Watch the video >
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On the second Tuesday of every month, NAR's Chief Economist Lawrence Yun will discuss the current factors, issues, and data affecting REALTORS® and their businesses. Get a wealth of information straight from the source with a quick listen – each podcast is around 5 minutes long and provides a timely market update.
Listen to the most recent podcasts >
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View the Annual Sales Volume and Median Sales Price of Existing Single-Family Homes from 1968-2008 on this new tool from Research. The map shows the change in data over time - click the time bar at the bottom and drag to see how the numbers change in this 40-year period. To switch between data series, choose either Annual Sales Volume or Median Home Price on the left hand drop down menu. On the right hand navigation bar you can choose unique colors to differentiate between the regions. To view either as a bubble chart or a bar chart choose the icons at the top right of the chart window. You can also click and drag on the gridlines within the map to modify the scale of the chart.
View the map >
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In this timely presentation, NAR Research Economists Danielle Hale and Jessica Lautz review the basics of the first-time home buyer tax credit and discuss the latest development: the credit being used on closing costs. Both the audio recording and the PowerPoint slides are archived on realtor.org.
Listen to the Webinar >
View the slides >
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This Research Webinar features economists from our Quantitative Research Team. NAR's expert economists discuss the various state- and local-level projects we produce and how you can apply these reports to your everyday business. Both the audio recording and the PowerPoint slides are archived on realtor.org.
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 August’s Spotlighted Member, Theresa Barnabei >
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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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