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The worst of the housing downturn is over for three-quarters of the country, NAR Chief Economist David Lereah told REALTORS® gathered for NAR's Annual Conference and Trade Expo in New Orleans last week. Noting that like politics, "all real estate is local," Lereah said 74 percent of the nation's housing markets will once again be expanding "in a sluggish way" in 2007. View and Download Presentation>
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A whopping 96 percent of Baby Boomers consider owning a home a very smart investment, and nearly four out of five currently own homes. One in four boomers also owns a vacation home, income property or other real estate in addition to a primary house. These and other insights from NAR's study entitled: "Baby Boomers and Real Estate: Today and Tomorrow," were presented by NAR's Vice President of Research Robert Barr at the association's Annual Conference last week . The report found boomers not only believe strongly in accumulating real estate, but also intend to keep doing so even as they head toward retirement. View and Download Presentation>
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Commercial real estate is fundamentally sound with growing jobs and expanding businesses, NAR's Senior Forecasting Economist Lawrence Yun told attendees of NAR's Annual Conference and Trade Expo last week. "We are seeing record levels of mergers and acquisitions, and institutional investors have returned in a big way," he said. View and Download Presentation>
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Real estate firms today vary widely in size and specialize in a variety of business activities, fueling competition that benefits consumers, according to NAR's 2006 Profile of Real Estate Firms: An Industry Overview. Hot off the presses, this report explains how the wide array of available services provide clients with customized offerings that meet increasingly sophisticated expectations. The diversity of real estate firms and business models allows both large and small firms to compete side-by-side, spurred by the growth in technology. Read more>
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Technology is dominating many aspects of the real estate transaction process, but the most important factors are purely human, according to NAR's 2006 Profile of Homebuyers and Sellers released at the NAR Annual Conference in New Orleans last week. David Lereah, NAR's chief economist, said that for the first time the association is able to quantify the popularity of different kinds of brokerage services. "What we find is that competition is alive and well, fueled by the growth in technology, and that consumers largely prefer more traditional methods of buying and selling homes," he said.
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Participate in NAR’s Customer Tracking Survey to find out what your clients think about the services you and your real estate firm provide. Get ongoing insights into what your clients value and what they don’t. The results may surprise you. It's free and results are confidential! Read more>
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Home sales are expected to hold fairly steady in the months ahead, according to the latest reading on pending home sales. The Pending Home Sales Index, based on contracts signed in September, slipped 1.1 percent to a level of 109.1, following a 4.7 percent gain in August. The September index was 13.6 percent down from a year earlier. David Lereah, NAR’s chief economist, said the index shows home sales will not be moving much in one direction or another. Read more>
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Existing-home sales eased in September, as did the number of homes available for sale – indicating the housing market is stabilizing. Total existing-home sales dipped 1.9 percent to a seasonally adjusted annual rate of 6.18 million units in September. This pace was 14.2 percent down from a year earlier. David Lereah, NAR’s chief economist, said: “Considering that existing-home sales are based on closed transactions, this is a lagging indicator and the worst is behind us as far as a market correction – this is likely the trough for sales.” Read more>
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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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