NAR in the News
The articles on this page are samples of media coverage related to the Power of 'R' messages.
(03/25/2015) Interview several real estate agents before picking one to work with, said National Association of Realtors president Chris Polychron. "Experience in the marketplace is very, very valuable," he said. It's important to find a full-time, veteran agent who knows enough about the local market to price your home appropriately, and market it so it stands out among comparable properties, he said. That can make a difference in how quickly it sells, and at what price. (Different agents may also charge different commissions.)
(03/23/2015) The housing market was still underperforming in February, according to the National Association of Realtors. With just a slight bump up from January, total sales are still running below expectations for the year. Don't blame winter weather, though. Blame the lack of supply. This is "all about inventory," said Lawrence Yun, chief economist for the Realtors. "Smaller local builders are not in the game. They don't have access to credit."
The New York Times
(03/20/2015) Buyers on the lower end — looking for homes priced at $250,000 and below — “are generally of moderate credit and are having trouble or being intimidated from applying for mortgages,” said Lawrence Yun, the chief economist and senior vice president for research at the National Association of Realtors. “While on the upper end,” he continued, “given the stock market bull run of the past six years, they have done very well financially. The stock market expansion has given a comfort level at the top tier of families to go ahead and apply.”
(03/18/2015) The 2015 National Association of Realtors® Home Buyer and Seller Generational Trends (NAR) conducted a detailed study on the generational differences of home buyers.
(03/16/2015 ) Renters across the nation are being squeezed by rising rents and stagnant wages. New York City and the surrounding area has seen the most dramatic increase, with rents up 50% over the past five years. However, household income in the area has risen just 8% in that period. Overall, rents have increased faster than income in all but four of the 70 metro areas, according to a report Monday from the National Association of Realtors.
The New York Times
(03/12/2015) And while the boomers nearing retirement age are generally too young to need assisted living facilities or similar housing, they already are having an impact on that market: They are influencing how and where those properties are built, as the decision makers on behalf of their parents. “Multiple trends are happening at the same time,” said Lawrence Yun, chief economist with the National Association of Realtors.
(03/12/2015) The albatross of student debt, underemployment and weak wage growth didn’t prevent millennials from accounting for the largest share of home purchases, according to data released Wednesday. The National Association of Realtors said millennials, or those between 18 and 34 years old, accounted for the largest share of home buyers last year at 32%, according to a report from the National Association of Realtors.
Men’s Health Radio
(03/11/2015) NAR President Chris Polychron answers a Men’s Health reader’s questions with advice about how to buy a home in a competitive real estate market.
(03/09/2015) To afford a typical house in the U.S., a homebuyer needs a minimum salary of $48,603 as well as a 20% downpayment, according to new research from mortgage publisher HSH.com. “Home prices in metro areas throughout the country continue to show solid price growth, up 25% over the past three years on average,” NAR chief economist Lawrence Yun told HSH.
The recent death of a Florida man who was gunned down while looking at a home in Fort Lauderdale last week once again has the real estate community speaking about the importance of safety. In an industry that requires its professionals to regularly meet with strangers in unfamiliar settings, safety in the real estate business is likely to be a topic that never expires. Despite several tragedies in the real estate community over the last year, a new survey from the National Association of REALTORS® found 96 percent of REALTORS® have never been the victim of crime.
The number of contracts signed to buy previously-owned homes in January marked the highest level in 18 months, the National Association of Realtors said Friday. NAR’s Pending Home Sales Index, which tracks contract signings (as opposed to closed sales), rose 1.7% in January to 104.2, from an upwardly revised December level of 102.5. (An index of 100 represents an average level of contract activity.)
(2/27/2015) Realtors, real estate agents and brokers are fighting a constant battle against people and companies who are trying to rip them off, and they’re not going to take it anymore, executives from the National Association of Realtors told a House subcommittee on Thursday. Representatives from NAR were on Capitol Hill Thursday to testify before the U.S. House Subcommittee on Commerce, Manufacturing and Trade and request “meaningful patent litigation reform,” because Realtors, real estate agents and brokers are often threatened by so-called “patent trolls.”
(2/26/2015) "With the improving economy, we will see more people leaving their parents' homes. Living in your parents' basement isn't part of the American dream," says Lawrence Yun, chief economist at the National Association of Realtors. "Nearly three million new jobs were created in the last 12 months, and that provides incomes for families and confidence for making long-term decisions."
(2/23/2015) Existing home sales slowed to their lowest rate in 9 months, the National Association of Realtors says. Sales of existing homes fell 4.9% in January from December. The number of sales stood at a seasonally adjusted annual rate of 4.82 million in January, the lowest since May's figure of 4.9 million.
(2/20/2015) Agents know it's crucial to learn to do business with young people: A 30-year-old is likely to buy and sell more homes in the decades to come than a woman twice her age. That’s a potential problem for the average agent, who is 56 years old, according to the National Association of Realtors. Steve Goddard, 68, manager of Re/Max Estate Properties in Manhattan Beach, Calif., says the fear of being replaced by younger models and new technology is constant. “We think about them all the time,” he said. To keep up, he answers e-mails around the clock and tries to get buyers invested in a personal relationship. Beyond that, it helps to keep a sunny attitude. "You’re only as young as you think you are.”
The Wall Street Journal
(2/13/2015) U.S. Department of Housing and Urban Development Secretary Julián Castro sparred for 4½ hours with Republican lawmakers at the House Financial Services Committee, many of whom said they believed the decision was reckless in the face of the program’s weak balance sheet. Mr. Castro argued that the agency could afford to make the cuts, while still returning to health, and said that the lower fees were needed to enable more low-income Americans to become homeowners.