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This week's release shows that over the next few months, existing-home sales are expected to hold fairly steady, then rise later in the year and continue to improve in 2009. Lawrence Yun, NAR chief economist, said there is a pull and tug exerting itself on the market, making the exact timing and strength of a home sales recovery uncertain. “On the one hand, we have a pent-up demand from the four million jobs added to our economy over the past two years of sales decline,” he said. “On the other, consumers continue to wait for additional signs of market stabilization. There are more people with financial capacity now than in 2005, but many are trying to market-time their purchase. A meaningful recovery in existing-home sales could occur as early as this spring, or it may be further delayed toward late 2008.”
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All real estate is local, and every market is unique – which is why NAR Research is helping you to keep on top of how your market is performing. Updated local home price analysis reports from NAR Research are now available for 154 markets, with more to come. Each downloadable 14-page report provides insights into the fundamentals of the local and national housing market. The reports evaluate key factors affecting home prices, including the health of the local job market, the penetration of nontraditional home financing options, debt-to-income ratios, mortgage servicing costs and more. The reports are free for members and purchasable by non-members. Access the reports>
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The downturn in housing has captured most of the headlines in the real estate news, but things remain positive in commercial sectors. The fundamentals in commercial real estate are essentially sound. Job creation in most regions of the country are continuing to fuel demand for office space, the decline in housing is helping the multi-family sector, and despite lower consumer confidence, retail vacancy rates remain fairly stable. The recently released NAR Commercial Real Estate Outlook, which reflects a forecast for fourth quarter of 2007 figures as well as projections for 2008, shows that commercial sectors will likely remain healthy and investment in commercial properties is expected to stay historically strong. Read More>
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Ninety-two percent of all home buyers consider energy efficiency at least somewhat important with 46 percent of all home buyers ranking energy efficiency as very important when considering a home for purchase. Increasingly, consumers’ preferences for products and services reflect awareness in energy efficiency, even extending to those looking to purchase a home. The National Association of REALTORS® newly released Selling Green pocket card evaluates the characteristics of home buyers and their home feature preferences in regards to energy efficiency. The data in the brochure is culled from the 2007 NAR Profile of Buyers’ Home Feature Preferences (pocket cards come in packs of 50). Order this valuable tool today. Learn more>
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Who are today's home buyers and sellers? Do they use the services of a real estate professional? The 2007 National Association of Realtors® Profile of Home Buyers and Sellers describes the characteristics and motivations of recent home buyers and sellers, allowing you to track the changing demands of consumers in a dynamic real estate market. For more information and to purchase the 2007 Profile of Home Buyers and Sellers, visit www.REALTOR.org/Store - this valuable tool is the featured product at the top of the page. Read more>
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Report compiled by NAR's Research Division.
Questions about this report? Contact Research at lGiovaniello@realtors.org. |
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