NAR in the News
The articles on this page are samples of media coverage related to the Power of 'R' messages.
(07/02/2015) The share of distressed sales dropped to less than 11 percent in May, a record low, from more than 18 percent a year earlier, RealtyTrac said. Such transactions "will fall further in the upcoming months," said Lawrence Yun, chief economist of the National Association of Realtors. There are "simply far fewer mortgages in the serious delinquent stage," Yun said in a housing forecast released Wednesday. "In fact, if one specializes in foreclosures or short sales, it is time to change the business model."
(07/01/2015) Today, the National Association of Realtors' social media handle, @NARsocial broadcast NAR Chief Economist, Dr. Lawrence Yun's housing forecast, offering insight into current events from the GDP to Greece, and how they play into the national market. While you can see a replay by downloading the Periscope app and locating @NARsocial (done by clicking the people icon at the bottom right of the app, searching for "NARsocial," and following the account run by NAR Social Media Director, T.J. Doyle), there is not yet a way to embed the feed here.
(06/29/2015) A sharp jump in interest rates may have deterred some home buyers in May. Signed contracts to buy existing homes, so-called pending home sales, rose just 0.9 percent in May from April, according to the National Association of Realtors, after a downward revision to April's reading. That is slightly lower than analysts predicted, but is still the highest level on the association's index since April of 2006. Pending sales are now 10.4 percent higher than one year ago.
(06/25/2015) Millennials have become more positive when it comes to taking the plunge into home ownership and are primed to gain market share in the second half of the year, according to the results of realtor.com’s consumer behavior survey of more than 12,000 respondents conducted from Jan. 1, 2015 to June 15, 2015. Jonathan Smoke, chief economist for realtor.com, revealed an in-depth analysis of these survey findings during a panel discussion at the National Association of Real Estate Editors conference in Miami.
(06/25/2015) The dire financial condition of Chicago and Illinois threatens to keep the metro area's already late and slow housing recovery from picking up much steam, says a top housing economist. "Anything that disrupts business confidence or job formation will eventually hit the housing market," Lawrence Yun, chief economist for the National Association of Realtors, said in an interview this week with Crain’s. Yun, who’s based in Washington, D.C., was here to speak yesterday to the Mainstreet Organization of Realtors, a Downers Grove-based association of more than 15,300 suburban brokers and others.
The Washington Post
(06/24/2015) When Federal Reserve head Janet Yellen was asked about housing issues last week, she gave an economist’s classic “on-the-one-hand, on-the-other-hand” answer. But because she neatly summed up the disparate economic realities confronting millions of owners, sellers, renters and would-be buyers around the country, it’s worth taking a closer look. On the one hand, she said, rising home prices have been terrific news for many owners. “The increase in house prices is restoring the wealth of many households who have [home equity] as their major asset,” she said. The National Association of Realtors reported Monday that first-time purchases in May rose to 32 percent of all buying activity — the largest share since September 2012.
(06/18/2015) China’s President Xi Jinping is peddling the notion of a Chinese Dream. Apparently that vision may include a suburban home in California. For the first time ever in percentage terms, Chinese investors snapped up more American residential real estate than any other group of international buyers. From March 2014 through March 2015, Chinese investors purchased $28.6 billion worth of single-family houses and condominiums in the U.S., according to the National Association of Realtors. Canadians, who had held top spot in percentage terms since 2008, have now been bumped to second place at $11.2 billion, while Indians rounded out the top three at $7.9 billion. In percentage terms, Chinese purchases made up 16% of foreign U.S. home transactions, Canadians 14% and Indians 8%. (The National Association of Realtors lumps together Hong Kong and Taiwan residents with mainland Chinese.)
(06/16/2015) Commercial real estate markets are improving with Realtors specializing in commercial real estate reporting an increase in annual gross income, the number of sales transactions and sales volume, according to the 2015 National Association of Realtors Commercial Member Profile. The annual study's results represent Realtors, members of NAR, who conduct all or part of their business in commercial sales, leasing, brokerage and development for land, office and industrial space, multifamily and retail buildings, as well as property management
CSPAN’s Washington Journal (VIDEO)
(06/14/15) NAR Chief Economist Lawrence Yun talks about the state of the U.S. housing market following a 3.3 percent drop in home sales in April 2015, as well as whether home ownership was still part of the “American dream.”
(06/11/2015) The U.S. Department of Energy recently reported that it's partnering with the National Association of Realtors and other organizations to help get the word out about residential energy efficiency, so it can be more appreciated in real estate market values. It's no secret that being energy efficiency is the way to go these days. Being green is becoming a global watchword that encompasses a wide range of topics and emotions.
(06/11/2015) 1.1 million vacation homes sold in 2014. Here's how to find a hideaway of your very own. Second–home sales leaped 57% last year, according to the National Association of Realtors. Why? A strong stock market and an influx of baby boomers buying vacation homes for retirement have helped, as well as still-depressed prices in some second-home markets. That said, Lawrence Yun, the NAR’s chief economist, expects prices–and sales–to rise in 2015.
(06/04/2015) As the summer is upon us, volatility will likely be an issue for the stock market as an anticipated rate hike by the Fed will certainly keep investors on their toes. One option to ride out the volatility could be real estate. Lawrence Yun, Chief Economist at the National Association of Realtors® said he “expects a rebound heading into the summer, but the likelihood of meaningful gains will depend on a much-needed boost in inventory and evidence of moderating price growth now that interest rates have started to rise.”
(06/03/2015) If you’re looking to hire a real estate agent for your home search, take note: Although business slowed down among Realtors® last year, veterans with considerable experience and broker licenses stayed ahead of the pack. The National Association of Realtors® released its 2015 Member Profile, for which it interviewed 180,703 members and found this: They sold fewer houses because—we know you know this—there are fewer houses to sell.
Mortgage Professional America
(06/02/2015) According to the National Association of Realtors, pending home sales rose in April for the fourth straight month and reached a nine-year record high – indicating the housing market is returning to levels not seen since pre-recession.
(06/02/2015) Pending home sales rose in April to the highest level in nine years and the median price jumped as well. And millennials represent the largest share of homebuyers, according to an analysis by the National Association of Realtors.
The Washington Post
(05/28/2015) Vacation home sales rose by 57.4 percent in 2014 compared with 2013 and reached a record high, according to the National Association of Realtors (NAR). In fact, vacation homes now represent 21 percent of all home sales, the highest share since NAR began tracking the market in 2003.