NAR in the News
The articles on this page are samples of media coverage related to the Power of 'R' messages.
(08/12/2015) The homeownership rate has fallen to a near 50-year low and looks as though it will decline further for another year or two. This does not mean that the housing market is in a funk. Rather it is quite the opposite, with home sales and home prices rising solidly in recent times. Existing home sales were up eight percent year-to-date to June from the same period a year ago, while new home sales were higher by 21 percent. Home prices were up anywhere from four to seven percent at the national level depending upon the data source.
(08/11/2015) Home prices are soaring across the country, increasing in 93% of markets in the U.S., according to the National Association of Realtors, with 19% experiencing double-digit growth. Nationwide, the median existing home price rose to $229,400 in the second quarter, up 8.2% from last year. "If supply were plentiful, prices wouldn't be rising as quickly in spite of jobs and rents rising," said Danielle Hale, director of housing statistics at the National Association of Realtors.
(08/10/2015) Is a bull market emerging in real estate? The National Association of Realtors recently reported that pending sales of existing homes are at their highest level in more than nine years. Sales of new homes are at a seven-year high. Prices reflect these imbalances. In some cities, such as Seattle, Denver and Tampa, prices are up by double-digit percentages compared with a year ago, says Clear Capital, a real estate data and analysis firm. The hot housing market could start to cool as prices reach affordability limits. Even NAR chief economist Lawrence Yun says that prices have risen at an "unhealthy and unsustainable pace."
U.S. News & World Report
(08/05/2015) The National Association of Realtors 2015 report on generational trends found that millennials, who are currently between ages 25 and 34, make up the largest share of homebuyers at 32 percent. Even more striking, millennials now constitute 68 percent of first-time homebuyers. That percentage might soon grow even more: A survey of 1,002 adults by TD Bank released in July found that just under half of millennials will be looking to buy their first home over the next two years.
(08/01/2015) While selling a home DIY could save some money, selling with a traditional agent is not without its many merits. "People can go online and search for a house very easily," NAR President Chris Polychron says. "But that's the easy part." Problems with the lending process or title are more common than you think. Also, people sometimes have difficulties filtering all the information from their local markets and deciding what really matters. "The thing a Realtor can add to the transaction is local knowledge," Polychron says. "Just because you're reading the data that someone wants to put into that listing, it may not tell you that there's a freeway and that during the day there's high noise levels or when the trees in the winter have their leaves fall off."
(07/30/2015) Activity in the housing market has been heating up just in time for the summer season. The number of single-family home sales is rising and more first-time homebuyers are making their way into the market, according to data from the National Association of Realtors, or NAR.
(07/29/2015) The National Association of Realtors has put out the welcome mat for Arnold Worldwide, hiring the Boston-based agency to handle creative, digital, brand activation and strategy following a review led by consultancy Select Resources International. The trade association, one of the nation's largest, with more than 1 million members, spent slightly less than $50 million on ads last year, and $14 million in the first quarter of 2015, per Kantar Media. Arnold's selection marks a major shift for the client, which has worked with the incumbent, Most, an independent agency, for the better part of two decades. "Most participated in the pitch and made it to the final round," said NAR svp of communications Stephanie Singer, who praised the Aliso Viejo, Calif., shop for its commitment through the years. "The decision ultimately was not about the past quality of their work, only an interest in moving in a different direction."
Money US News
(07/27/2015) "This wave of demand is being fueled by a year-plus of steady job growth and an improving economy," says Lawrence Yun, the NAR's chief economist. "That's giving more households the financial wherewithal and incentive to buy."
(07/23/2015)Economists expect a 0.5 percent increase in new-home sales to a seasonally adjusted annual rate of 548,000, according to a survey by data the firm FactSet. Sales of existing homes increased 3.2 percent in June to a seasonally adjusted annual rate of 5.49 million, the National Association of Realtors said Wednesday. The shortage of new listings has fueled higher prices. The median home value has risen 6.5 percent over the past year to $236,400, the highest figure — not adjusted for inflation — documented by the Realtors.
U.S. home resales rose in June to their highest level in nearly 8-1/2 years, a sign of pent-up demand that should buoy the housing market recovery and overall economy. The National Association of Realtors said on Wednesday existing home sales increased 3.2 percent to an annual rate of 5.49 million units, the highest level since February 2007.
The Washington Post
(07/21/2015) The biggest challenge for many would-be buyers is that there are not enough homes on the market. In some areas with low inventory, homes are being snatched up within a matter of days. That’s despite the rise in home prices, which increased by 4.9 percent in April from the year before, according to the most recent data from the Standard & Poor’s/Case-Shiller 20-city home price index. “Good for homeowners, not good for potential buyers,” says Lawrence Yun, chief economist for the National Association of Realtors.
(07/18/2015) Chris Polychron, 2015 president of the National Association of Realtors, said he thinks Des Moines’ optional seller contract is the first of its kind and he hopes other real estate firms adopt it. “I think they have been pioneers in a serious problem,” he said. Meeting prospective buyers in public and checking their ID discourages would-be attackers and allows agents to spot red flags in a safe place, he said.
(07/16/2015) The National Association of Realtors®, which has lobbied strongly in favor of speeding up regulations, issued a letter ahead of the hearing asking for clear federal regulations. "Commercial use of [drones] has the potential to boost the U.S. economy, bringing research and manufacturing jobs to our country along with a new crop of small businesses specializing in their uses," the association said.
(07/16/2015) According to the National Association of Realtor's latest Foot Traffic report released on July 8th, interest in purchasing a home increased during the month of June. The report provides information regarding the amount of foot traffic seen at open houses and showings nationwide. An increase in foot traffic bodes well for the future of the real estate market.
Fort Worth Star-Telegram
(07/10/2015) People buy and sell homes for many reasons. Perhaps they need to relocate for a job, or maybe they simply want a change of scenery. However, according to the National Association of Realtors® 2015 Home Buyer and Seller Generational Trends Report, if you are 50 years or older, chances are you are selling your home to downsize.