Research Commentary from REALTOR.org.
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Did You Know: Median Loan Amount
Did you know that, with the real estate downturn, the median loan amount decreased 4% in 2008?
Good news: Consumers are willing to spend. The economy is boosted upward for this quarter.
(Nov. 17) According to Home Mortgage Disclosure Act data (HMDA), in 2008, only 3% of home buyers used junior lien loans (second mortgages) for home purchases, down from 13% in 2007.
Did You Know: Government Sponsored Enterprises and Mortgage Markets
Did you know that Government Sponsored Enterprises (Fannie, Freddie, Ginnie, etc.) played increased roles in the mortgage markets in 2008?
Did You Know: VA Loan Usage
(Nov. 13) Did you know that VA guaranteed loan usage increased nationally from 3% in 2007 to 5% in 2008?
Did You Know: FHA Loan Usage
Did you know that FHA loan usage increased from 7% in 2007 to 25% in 2008?
Daily Forecast Update: Stocks and Interest Rates
U.S. Stocks opened higher today as economic news from China came in better than expected and investors liked the Federal Reserve's announcement of continued low interest rates.
Did You Know: Loan Types Utilized
Did you know that in 2008 there was a sharp increase in government insured loans and a significant drop in conventional loans?
Daily Forecast Update: State Sales, Quarterly Metro Prices, etc
Today?s data on home sales is positive in most states.
Did You Know: Number of Mortgage Loan Originations
Did you know that mortgage originations for home purchases in 2008 dropped by 23% compared to the previous year?
Did You Know: Share of Itemizing Tax Filers Taking the Mortgage Interest Deduction
Did you know that 90.2 percent of itemizing tax filers took the deduction in Alaska compared 22.8 percent of itemizing tax filers in Wyoming?
Daily Forecast Update: 10-Year Treasury, Gas Prices
Good news: the Treasury rate remains near historical lows.
Economist's Podcast: Tax Credit and Market Forecast
NAR Chief Economist Lawrence Yun discusses the extended home buyer tax credit, and gives a market update.
Daily Forecast Update: The Tax Credit, Employment
Good news: the home buyer tax credit will be available through the middle of next year and to more potential buyers.
Did You Know: Single Person Households in 2008 vs. 2000
Did you know that, according to recent statistics released by the U.S. Census Bureau, living alone is becoming a norm?
Daily Forecast Update: Unemployment Insurance Claims, Employment Productivity
The decline in unemployment insurance claims provides a bright spot in this week's data.
Did You Know: Number of Taxpayers Taking the Real Estate Tax Deduction
Did you know that the number of filers claiming a deduction for real estate taxes paid in each state varied from 55,928 in North Dakota to 5,344,121 in California?
Did You Know: Number of Taxpayers Taking the Mortgage Interest Deduction
Did you know that the number of taxpayers claiming a mortgage interest deduction in each state varied from 50,351 in North Dakota to 5,221,487 in California?
Daily Forecast Update: ADP Employment Survey, Mortgage Purchase Applications, and more
Mortgage purchase applications slipped for the second straight week despite a moderation in mortgage rates.
Did You Know: Where the High-Income Tax Payers Are Located
Did you know that the number of tax returns filed with $200,000 or more in adjusted gross income ranges from 6,300 in North Dakota to 691,500 in California?
New Data: September Pending Home Sales
Pending home sales rose again, marking eight consecutive monthly gains--the longest streak since measurement began in 2001.
Daily Forecast Update: ISM Index, Pending Home Sales
Home buyers continue to stay in the market and are signing contracts.
Did You Know: Annual Income of REALTORS®, by Firm and Office Size
Did you know that members who work at smaller firms, those with less than 25 agents and brokers in either the office or the firm typically made below $40,000 in 2008?
Did You Know: Residential Vacancies
Did you know that national vacancy rates in the third quarter 2009 were 11.1 percent for rental housing and 2.6 percent for homeowner housing?
Daily Forecast Update: Personal Income, Consumer Sentiment
As expected, the consumer sector was weak in September, with both a drop in spending and no change in income.
Economists' Commentary: Research Spotlight
This month NAR Research's Member Spotlight features Ohio REALTOR® Carol Murphy.
Daily Forecast Update: GDP and Weekly Jobless Benefit Claims
The economy seems to be emerging from the recession. GDP is the broadest measure of economic activity, and the trend is up.
Did You Know: Men's and Women's Earnings
According to the 2008 American Community Survey, for women, the median earnings were $35,471, or 77.9 percent of men's earnings.
Daily Forecast Update: Mortgage Applications and New Home Sales
Mortgage applications for home purchases have been falling the past three weeks in October.
Did You Know: Household Distribution and Housing Costs
Households in the bottom income quartile are most likely to face affordability problems.
Daily Forecast Update: Consumer Confidence, Case/Shiller Index
There were many positive indicators in October, most notably the stock markets.
Did You Know: Monthly Mortgage Payments
Under these assumptions, real monthly payments on a median priced house in 2008 were 20 percent below the 2006 peak.
Did You Know: Cash-Out Refinancing
Did you know that the collapse of cash-out refinancing has left homeowners with less to spend?
Daily Forecast Update: Weekly Mortgage Rates & Federal Reserve
Mortgage rates edged higher for the second straight week, but remain at relatively low levels.
New Data: Existing-Home Sales Show Big Rebound
Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in six months.
Did You Know: Household Vehicle Travel
Did you know that center city dwellers used their cars much less than their suburban counterparts?
Economists' Commentary: Existing Home Sales in September
Sales surged in September.
Did You Know: State Unemployment Rates
Did you know that Michigan continues to have the highest unemployment rate of any state at 15.3 percent?
Daily Forecast Update: Jobless Claims, FHFA Home Price, Beige Book, Conference Board Indicators
The Federal Reserve?s Beige Book notes that the real estate sector is one of the few bright spots in the economy.
Did You Know: Median Household Income
Did you know that the real median household income in the United States fell 1.2% between 2007 and 2008, from $52,673 to $52,029?
Daily Forecast Update: Weekly Mortgage Applications
Higher mortgage rates and the approaching November 30th deadline for the tax credit seem to impact the market negatively.
Commentary: Retail Properties Struggle with Low Sales, High Distress
Commercial retail space has been in a decline, following significant contractions in demand.
Did You Know: Refinancing Stats
Homeowners who refinanced mortgages in the second quarter secured rates that were typically 20% lower than the original rate.
Daily Forecast Update: Housing Starts and PPI Index
Low inflation allows lenders to loan money at lower rates without much fear of loss in purchasing power.
Economist's Commentary: Industrial Sales Looking for Foothold
Investors are betting on a resurgence of warehouse space in the wake of low business inventories
Daily Forecast Update: CPI and Jobless Claims
The Labor Department announces that, for the first time since 1975, social security benefits will not increase based on cost-of-living.
Did You Know: Walkability of Cities
Did you know that the walkability of cities translates directly into increases in home values?
Economist's Podcast: The Tax Credit and the Economy
NAR Chief Economist Lawrence Yun discusses reasons for renewing the tax credit and its impact on the economy.
Daily Forecast Update: Retail Sales, Weekly Mortgage Applications
For stronger and more sustained retail sales, housing has to recover.
Did You Know: Social Security to Pay for Housing
Did you know that households dependent on lower incomes or solely on social security payments in retirement are more like to spend more than half their income on housing?
Did You Know: Income Gains at Risk
Did you know that for the first time in decades workers under 55 are on track to end the decade earning less than their predecessors?
Daily Forecast Update: Retail Chain Sales
Good news! Consumers are opening their wallets at shopping malls.
Economist's Commentary: Office Investments Grow in Third Quarter
With the number of distressed properties rising and prices falling, there are signs of activity in the office sector.
Did You Know: Housing Construction
Did you know that the downturn in home building is the worst since World War II?
Daily Forecast Update: International Trade
Surprisingly, the trade deficit narrowed in August, for the first time in four months.
Economists' Commentary: Unleashing Pent-Up Housing Demand and Sustainable Economic Recovery
Stabilization of home values is key to sustainable economic recovery; for this to occur, an extension on the home buyer tax credit is critical.
Daily Forecast Update: Unemployment Claims, Consumer Credit
Although unemployment claims are still high, the number of people being added to the rolls continues to decline.
Did You Know: Purchasing Power
Did you know that more than one-third of borrowers took out adjustable-rate mortgage (ARM) loans in 2004?
Did You Know: Property Values by State
Did you know that in 2008 Hawaii recorded the highest median value of owner-occupied homes--$560,200?
Daily Forecast Update: Mortgage Applications
Mortgage rates continue to be near historic lows at less than 5 percent.
Economists' Commentary: Is the Tax Credit Working?
An extension of the current credit through the end of 2010 is expected to yield an additional 350,000 sales.
Daily Forecast Update: 10-Year Treasury and Oil Prices
Good news: the Treasury rate continues to be at historic lows. The low rate bodes well for the cost of borrowing in other financial markets.
Did You Know: Secondary Specialties of Residential Brokerage Specialists
Did you know what the top three secondary specialties among residential specialists are?
Did You Know: Housing Costs
Did you know the average decrease in housing costs for homeowners with mortgages was 0.3 percent between 2007 and 2008?
Daily Forecast Update: ISM Non-Manufacturing Index
Right now, the housing market is being supported by stimulus measures like the tax credit and low mortgage rates.
Commentary: Moving in the Right Direction
New second quarter Metro Price Reports suggest that price stability and even modest growth is emerging.
Daily Forecast Update: Employment
As many key economic indicators are showing improvement, employment is continuing to struggle.
Did You Know: International Commercial Transactions
Did you know that seventy-four percent of all commercial members had no international transactions in 2008?
Did You Know: Work Hours and Time on Commercial Real Estate
Did you know that according to the 2009 Commercial Member Profile, nearly 9 in 10 commercial members work full-time in their career?
Daily Forecast Update: Pending Home Sales, Unemployment Claims
Home buyers are coming to the market to meet the tax credit deadline. Unfortunately, some will not make it because of longer closing processes due to appraisal issues and tighter underwriting standards.
Did You Know: Foreclosures in Low-Income Neighborhoods
Did you know that while the recession has touched almost all households, minorities have been hit especially hard?
Economists' Commentary: Research's Member Spotlight
Each month, NAR Research will be spotlighting a member who has gone above and beyond in their use of Research data, surveys, and other products.
Did You Know: Household Budgets
Did you know that in 2007, nearly three-quarters of severely cost-burdened households had low incomes?
Daily Forecast Update: Case-Shiller Price Index, Consumer Confidence
Case Shiller data from July are consistent with NAR data showing improvement in house prices in the last few months.
Economist's Commentary: Multi-Family Investments Rise in Second Quarter
Amid signs of improvement in parts of the economy, commercial real estate continues to face downward pressure.
Daily Forecast Update: Funds for Local Housing Agencies, Global Imbalance
Federal help to local housing finance agencies will permit more lending. If the borrowers stay well within budget, this will provide permit additional demand support for the housing market.
Did You Know: Commercial Member Property Information Sources
Did you know that seventy percent of members use LoopNet, a California-based online listing service?
Realtors®' Confidence Index in August
NAR surveys REALTORS® monthly on market trends and conditions, making the information available in an on-line summary, The Realtors' Confidence Index.
Did You Know: Commercial Member Business Specialties
Did you know that land sales were identified by 16 percent of commercial members as their primary business specialty?
Daily Forecast Update: Consumer Confidence, Residential Sales, and Durable Goods
We are making progress in emerging from the recession, but the recovery is still somewhat weak.
Economists' Commentary: Existing Home Sales in August
We are ever so close to reaching that self-propelling housing market recovery.
Did You Know: Commercial Member Income
Did you know that in 2008 the median gross annual income of commercial members was $99,900?
Did You Know: Commercial Member Experience
Did you know that among commercial members, the median years experience in real estate is 24?
Daily Forecast Update: Stock Market, Gold and Oil Prices
The rising stock market assures less cautious consumers, but the bigger boost to consumer spending will come from rising housing wealth.
Did You Know: Commercial Member Demographics
Did you know that according to the 2009 Commercial Member Profile, the average commercial member is 56 years old?
Daily Forecast Update: Interest Rates, Home Buyer Tax Credit Extension
A sustainable economic recovery and changes in forecast will depend upon the extension of the first-time home buyer?s tax credit.
Daily Forecast Update: Consumer Credit
With home values recently showing stabilization signs, gains in housing wealth are likely for 2010 and beyond.
Did You Know: Home Equity Cashed Out
Did you know that home equity fell by $5.9 trillion in 2008, down 43% from the 2005 level?
Daily Forecast Update: Housing Starts & Unemployment Claims
Some restraint in new home construction is needed to allow time for existing housing inventory to be absorbed.
Did You Know: Recession "Very Likely Over"
Did you know that Federal Reserve Chairman Bernanke has said that the recession is "very likely over?"
Daily Forecast Update: Mortgage Purchase Applications, Consumer Price Index, Industrial Production, Current Account Balance
Home sales continue to chug along at a healthy rate despite this week?s anomalous decline in mortgage applications.
Did You Know: Non-Prime Lending
Did you know that more than 50% of loans originating in San Francisco, San Jose, and San Diego at the height of the housing boom included affordability features?
Did You Know: Household Tenure by Income
Did you know that in 2007 more than 90% of occupied households earning $120,000 or more were occupied by their owners?
Commentary: Multi-Family Vacancy to Rise
In light of rising vacancies in the third quarter, rent growth is expected to decline.
Daily Forecast Update: Retail Sales, Producer Price Index
The rise in retail sales points to an improvement in consumer confidence.
Did You Know: Energy and Environmental Concerns
Did you know the residential sector is responsible for about 21 percent of total energy consumption?
Economists' Commentary: Climbing Out of Recession
The world-wide economic recession is essentially over.
Did You Know: Severely Burdened Households
Did you know that many severely burdened householders are actually employed, retired or disabled?
Daily Forecast Update: Imports & Exports, Wholesale Prices, Consumer Sentiment
he demand for U.S. wholesalers' goods has increased for the 3rd consecutive month and means wholesalers are clearing excess supply.
Did You Know: Seriously Delinquent Mortgages
Did you know that seriously delinquent mortgages are so far concentrated among private label securities?
Daily Forecast Update: Unemployment Claims, Trade Deficit
Unemployment claims are still high but continue to abate in intensity. However, we can expect rising unemployment through the next year or so.
Did You Know: REALTORS® and Designations
Did you know that the median gross personal income REALTORS® with at least one designation was $55,700 based on a 2009 survey?
Daily Forecast Update: Mortgage Applications, Beige Book
Buyers are taking advantage of record low interest rates and home prices, which is making homeownership more affordable now than ever.
Did You Know: REALTORS® and Designations
Did you know REALTORS® who have a designation make significantly higher salaries?
Did You Know: Percent of Homes Financed
Did you know that among all buyers, the percentage of homes financed remained stable at 91 percent from 2006-2008?
Economist's Podcast: September 8, 2009
NAR Chief Economist Lawrence Yun shares his outlook on jobs and why a shift in consumer perspective is driving a stable housing market.
Daily Forecast Update: Jobless Claims
People continue to struggle unemployment rises, curtailing spending on items large and small.
Did You Know: Foreigner Financing of Purchased Property
Did you know that foreigners frequently pay cash in purchasing U.S. properties, rather than obtaining a mortgage?
Daily Forecast Update: Jobless Claims, ISM Index
Tomorrow's employment situation release will give a fuller picture of conditions, and economists expect the unemployment rate to creep up from its current 9.4 percent.
Did You Know: Where Foreign Buyers Purchased Property
According to NAR?s recently released 2009 Profile of International Home Buying Activity, while foreign buyers purchased U.S. properties throughout the U.S., the two regions most popular were the South and West.
Economist's Commentary: Industrial Rent Expected to Drop 11.4 Percent in 2009
The industrial sector underwent further contraction in the second quarter of the year.
Did You Know: Median Price Paid by International Buyers Purchasing
Did you know that the median price paid for homes purchased by foreign buyers was $247,100 in 2008.
Daily Forecast Update: Employment, Mortgage Applications
Although the economy is expected to show positive growth in the third quarter, unemployment is still expected to increase for approximately the next year
Economists' Commentary: Unemployment Claims- Duration and Exhaustion Rate
While the housing market and stock market are showing signs of recovery, unemployment remains high.
Did You Know: Buyer Origin
According to NAR?s recently released The 2009 Profile of international Home Buying Activity, 31 percent of foreign purchasers of U.S. real estate were from Europe.
Daily Forecast Update: Pending Home Sales, Construction, ISM
Home sales should continue their upward pattern as the real estate market moves into the early fall.
Economist's Commentary: Office Vacancies Rise as Demand Declines
The economy closed the second quarter of the year with negative results, but with a hopeful outlook for the latter half of the year.
Did You Know: Echo Boomers
Did you know that "echo boomers" will help keep demand strong for the next 10 years and beyond, bolstering the markets for rentals and starter homes.
Quick Take: Personal Income & Consumption, Consumer Sentiment
Consumers remain fairly weakened by the economic crisis. The unemployment situation continues to make people more cautious when it comes to spending than usual.
Did You Know: Who Worked at Home, by Income
Did you know that nearly one in three of the highest earners works at home on an average day compared to fewer than one in ten among the lowest earning groups?
Quick Take: Unemployment Insurance Claims, GDP
People receiving unemployment insurance declined this past week.
Did You Know: Who Worked at Home?
Did you know that those who are self-employed were more than 3 times as likely as wage and salary workers to work at home on an average workday.
Quick Take: New Home Sales, Mortgage Applications
The releasing of the pent-up demand should help continue to carry the momentum forward.
Did You Know: Home Buyers by Marital Status
Did you know that married couples who purchased homes typically had a household income of $86,500?
Did You Know: Real House Prices
Home prices in many markets have retreated to pre-boom levels. In the Midwest, where house price appreciation was only modest during the boom, the setbacks have been especially large.
Quick Take: Six Month Bill Auction
Today's auction for 6 month T-Bills produced an investment rate of .259%, compared to a rate of .279% on July 27 and .340% on June 22.
Did You Know: Foreclosures in Once-Booming Markets
Foreclosure rates in California, Arizona, Nevada, and Florida surged from less than 0.9 percent at the start of 2007 to 5.9 percent by the end of 2008.
Economists' Commentary: July Existing Home Sales
Existing home sales increased 7.2 percent from the prior month to a seasonally adjusted annual rate of 5.24 million units.
Quick Take: Unemployment Claims, Leading Indicators
Higher unemployment stalls economic growth as consumers are apprehensive about making large purchases.
Did You Know: Home Price-to-Income Ratio
Did you know that conditions are great for home buyers with a steady job and good financing?
New Economic Data: Commercial Leading Indicator
Although commercial real estate activity has been affected by the credit crunch, job losses and weak consumer spending, the decline appears to be slowing.
Did You Know: Luxury Home Buyers and The Search Process
Did you know buyers who purchase luxury homes look for longer and at more homes?
Quick Take: MBA Weekly Index
Interest rates continue to be at levels that will support a recovery in the existing home sales markets nationwide.
Did You Know: Homeownership by Income
Did you know that in the second quarter of 2009 homeownership rates, among households with income greater or equal to the median income, dropped more than for those with less than median income?
Economists' Commentary: International Property Markets
Like the United States, many world markets have seen increases in their property values and experienced a housing bubble and a subsequent bust in the past half a decade.
Quick Take: Housing Starts and Producer Price Index
Overall, low inflationary pressure should mean continuing low mortgage rates, at least through the year's end.
Did You Know: Homeownership by Race
Did you know that in the second quarter of 2009 homeownership rates dropped among all races?
Economists' Commentary: Months Supply - What's in a Number?
Months supply is one of the most insightful statistics used to describe the housing market. It gives a concise assessment of a market?s condition as of that point in time. What is the current supply figure telling us?
Quick Take: Housing Market Index (HMI)
The increased optimism by home builders is positive news for the economy as it tries to rebound from this deep recession.
Did You Know: Who is Buying Homes More Than $500,000
Did you know that 19% of people who bought homes that were more than $500,000 were first-time buyers?
Quick Take: Consumer Price Index, Consumer Sentiment, Industrial Production
Consumers are still facing challenges of large job losses, weak income growth, falling home prices, and rising energy costs.
Economists' Commentary: Greening Homes
Energy efficiency in the housing market is of growing interest to REALTORS® and consumers.
Did You Know: Method Used To Find Real Estate Agent
Did you know that 38% of sellers were referred to their real estate agent by a friend, neighbor, or relative?
Economists' Commentary: Market Outlook for August
The recovery in the housing market will lay the foundation for a sustainable economic recovery.
Economists' Commentary: Census Non-employer and NAR Membership Data
Being self-employed presents unique challenges to REALTORS®, for instance access to affordable health insurance and potentially volatile earnings.
Quick Take: 10-Year Treasury, Oil Prices, Commercial Real Estate
Commercial real estate continues to struggle with mortgage debt refinancing. Extending TALF?s availability for CMBS purchases would provide a measure of relief.
Did You Know: Making Compromises When Buying A Home
Did you know that 19% of recent buyers made some compromises or lowered their expectations about the price of the home they purchased?
Quick Take: Unemployment Claims, Fannie & Freddie Restructuring
Mortgage rates will naturally fluctuate but should remain generally favorable because of an active secondary mortgage market.
Existing Home Sales: Market Remains Bifurcated
According to the Realtors® Confidence Index, distressed home sales have made up a smaller percentage of total sales in recent months.
Quick Take: Purchase Apps, Employment Report, ISM Index, Short Sales and Factory Orders
Sizable job cuts suggest that Friday?s unemployment readings may reach up to 9.9 percent.
Did You Know: How FSBO Sellers Will Sell Their Current Home
Did you know that thirty-eight percent of FSBO sellers who knew their buyer say that they would use a real estate agent to sell their current home?
Quick Take: Pending Home Sales, Income and Savings
Although the upturn in housing looks sustainable, the housing market is still far from being back to normal.
New Economic Data: Uptrend Continues in Pending Home Sales
Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors®.
Did You Know: Importance of Environmentally Friendly Home Features
Did you know that forty-three percent of recent buyers considered a home?s heating and cooling costs very important?
Economists' Commentary: Commercial Investment Trends: Industrial
Although some businesses are considering production increase, it is likely that the industrial sector will remain relatively weak through 2009.
Quick Take: ISM Manufacturing, Construction Spending
Although the manufacturing sector is still shrinking, there are signs that manufacturing growth may be in store in the months ahead.
Economists' Commentary: Research's Member Spotlight
NAR Research spotlights a member who has used our data to better serve clients and share knowledge with other Realtors®: this month, Maria Wells.
Did You Know: London Market Boosted by International Buyers
A weak pound has led to a massive increase in overseas buyers who are buying largely in central London.
Quick Take: Unemployment Insurance Claims, The Beige Book
The economic decline seems to be slowing, and a few regions show signs of possible stabilization.
Did You Know: Distance of Move to New Residence
Did you know that the typical homebuyer moved 15 miles from his or her previous residence?
Quick Take: Case-Shiller Index, Consumer Confidence
As the fall in housing prices slows, buyers who have been waiting for the right time may finally jump back into the market en masse.
Economists' Commentary: Regional Round Up, Part 2
After nearly a decade-long housing boom, it took almost a year and a half for the pricing power to shift from sellers to buyers.
Economists' Commentary: Regional Round Up, Part 1
Foreclosures are having a substantial impact in some markets, while unemployment is the primary concern in other locations.
Did You Know: State Fiscal Conditions
Did you know that according to the Center on Budget and Policy Priorities, 47 states face shortfalls in fiscal year 2009 or 2010?
Quick Take: Consumer Sentiment and Jobless Claims
Consumer sentiment remains weak as people across the country are worried about job and income prospects
Did You Know: Homeowner Vacancy Rate
In 2008 the U.S. the homeowner vacancy rate was 2.8 percent, up from 1.6 percent in 2000.
Did You Know: Home Ownership Rate by State
Did you know that the U.S. homeownership rate of 67.8 in 2008 is down from 69 percent in 2004, but up from 67.4 in 2000.
Economists' Commentary: June Existing Home Sales
After four difficult years of a housing recession, the market is clearly healing.
Did You Know: Gross Household Income of REALTORS®
The median gross household income for members in 2008 was $91,500.
Quick Take: Weekly Mortgage Applications and FHFA Index
The mortgage applications (for purchase) index is still a trickle compared to just a year ago.
Did You Know: Tenure at Firm
Did you know that the typical REALTOR® has been at his/her firm for five years?
Quick Take: The Fed's Independence
Mortgage rates are no longer at the rock-bottom rates of less than 5 percent. However, mortgages rates are still well under 6 percent - which can still be considered as being near 50 year lows.
Economists' Commentary: Commercial Investment Trends--Retail Sector Struggles with Growing Distressed Sales
Consumer spending continues to decline, as rising unemployment and a prolonged recession force consumers to cut back. Against this backdrop, demand for retail space has been contracting.
Did You Know: Sales Price and Urgency
Did you know that the typical home seller sold their home for 96 percent of the listed selling price?
Quick Take: Housing Starts and Bank Profits
While the number of jobs counted in jobless claims is lower, it does not tell the full story. Those who have stopped receiving benefits are no longer counted.
Economists' Commentary: Finance 101--Compounding, Interest, and the Housing Market, Part 2
Home buyers who finance their purchase with a mortgage have options on how to pay the interest and principle borrowed that impacts how much they pay monthly, whether that payment changes, and how long it will take to pay off the mortgage.
Did You Know: Buying a Home is a Good Financial Decision
Did you know Americans in their prime home buying years (ages 25 to 44) are more confident than any other age group that buying a home is a good decision?
Economists' Commentary: Finance 101--Compounding, Interest, and the Housing Market, PT 1
The effects of compounding interest can lead a consumer to undersave and underborrow.
Did You Know: Compensation Structure for REALTORS®
Did you know that the dominant method by which REALTORS® are compensated is by percentage split commission?
Quick Take: CPI, Mortgage Applications, Industrial Production
The decline in the purchase index for mortgage applications is negative news; however, the lower rates and increase in refinances should be good overall for the housing market.
Quick Take: 10-Year Treasury Yields and Mortgage Rates
Market timing for the cheapest mortgage rate will be tricky.
Did You Know: Buying a Home Through an Agent
Eighty-one percent of recent home buyers purchased a home through a real estate agent or broker in 2008.
Economists' Commentary: Changing Local Markets
NAR Research has released new Market Price Reports, which cover sales, price and affordability information for more than 150 markets.
Quick Take: International Trade, Imports and Exports, Consumer Sentiment
In contrast to the positive trade news, consumer confidence is continuing to deteriorate with the sentiment index falling more than 6 points to 64.6 for middle of July.
Did You Know: Level of Service Desired
More than four out of five sellers chose an agent who provided a broad range of services and managed most aspects of the sale.
Quick Take: Unemployment Claims
The increase in continuing claims suggests that the labor market is very slack and that businesses are reluctant to hire new employees.
Did You Know: Realtors® Language Fluency and Country of Birth
Did you know that nine percent of REALTORS® were born outside the United States?
Economists' Commentary: The Next Middle Class
Imagine the prospect of 30 to 50 million more people with disposable income and spending potential.
Did You Know: City Expansion
Did you know that the growth rates of the biggest U.S. cities have increased as unemployment and the real-estate slump have slowed migration to the suburbs?
Economists' Commentary: First-Time Home Buyer Tax Credit Resources
NAR offers a wealth of information to help everyone make sense of the tax credit.
Did You Know: Repeat Business and Referrals
Did you know that the average REALTOR ® earned 18 percent of his/her business from past clients and customers?
Economists' Commentary: Multi-Family Demand Increases in Second Quarter
The delinquency and foreclosure rates for residential loans continue to register increases.
Did You Know: Size of Home Purchased
The recent American Institute of Architects AIA Home Design Trends Survey shows a shift in buying trends towards small homes.
Quick Take: ISM Index, 10-Year Treasury
The lower 10-year treasury should mean that mortgage rates will remain in the mid-five percent range in the near term, which is historically fairly low.
Economists' Commentary: On Appraisals--The Impact of HVCC
A preliminary analysis indicates that the implementation of the Home Valuation Code of Conduct (HVCC) appears to be having adverse impacts on the housing markets.
Quick Take: The Job Market
The job market remains weak, but declines are occurring at a slower pace than in previous months.
Did You Know: Interest Rates and Mortgage Pay Off
Did you know that lower mortgage rates enable a borrower to pay off a greater share of the loan much faster?
Economists' Commentary: Going Back to Plain Vanilla Financing
A recent Wall Street Journal article suggests that the new consumer protection agency will bring a return to plain vanilla financial products.
Quick Take: PHS, Employment, Manufacturing, Construction Spending and Mortgage Applications
NAR?s pending home sales index increased for the fourth consecutive month, a hint that sales may have already reached bottom.
Did You Know: Interest Rates and Yearly Payments
Did you know that today's mortgage rates, which have been between 5 and 5.5 percent, are generationally low.
Did You Know: FSBO and Agent-Assisted Sales Price
Did you know that all sellers in the Home Buyer and Seller survey reported a median sales price of $204,900?
