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As mentioned in last month's issue, the Pending Home Sales Index -- a forward-looking indicator of housing market activity -- and the Housing and Economic Forecast Report have been combined into one into one monthly release, instead of two separate ones. This week's release and forecast shows existing-home sales are projected to trend up in 2008, with pending home sales showing a slight near-term rise. NAR Chief Economist Lawrence Yun said the worst part of the credit crunch has already worked its way through the data. "The unusual mortgage disruptions that peaked in August were clearly seen in lower home sales that were finalized in September and October, so the market was underperforming," he said. "Now that mortgage conditions have improved, some postponed activity should turn up in existing-home sales over the next couple of months, and I expect sales at fairly stable to slightly higher levels."
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You've heard it here before, but it never hurts to say it again: Every market is unique. That's why NAR Research has produced local home price analysis reports for 74 markets (with many 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 to members and for sale to non-members. Access the reports>
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Most home buyers and sellers rely on real estate professionals to assist them with their transaction. Surveys of both buyers and sellers consistently reveal that consumers value the guidance and advice offered by real estate professionals. Consumers expect real estate professionals to display high levels of knowledge and integrity; more than eight in 10 consumers are very satisfied with their agent's performance in these areas. Consequently, a substantial majority of both buyers and sellers report that they would use the same real estate agent again or recommend that agent to others. All this and more in the latest version of NAR’s Profile of Home Buyers and Sellers. Read More>
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What does today's buyer look for in a home? This NAR Research report describes the home features that buyers considered most crucial during their home search. With regional and demographic analysis, and the incremental dollar values that buyers place on particular features, the 2007 NAR Profile of Buyer's Home Feature Preferences can be an effective tool to use in pricing homes and serving your customers.Learn more>
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Report compiled by NAR's Research Division.
Questions about this report? Contact Research at TDoyle@realtors.org. |
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