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Future of U.S. Housing Markets Depends Largely on Echo Boomers - WASHINGTON (May 18, 2012) - The next two decades in housing markets depends largely on the Echo Boomers. That's according to panelists at the "Shifting Demographics and Housing Choice: A Whole New World?" session today during the Realtors® 2012 Midyear Legislative Meetings & Trade Expo here. There are approximately 62 million echo boomers in the U.S. Also called "millennials," echo boomers are currently ages 17-31. According to the 2011 National Association of Realtors® Profile of Home Buyers and... Read More
Lack of Capital Hinders Commercial Market While Modest Improvement Persists - National Association of Realtors® Chief Economist Lawrence Yun presented a modest and hopeful outlook for the commercial real estate market during the Economic Issues and Commercial Business Trends Forum at the Realtor® Midyear Legislative Meetings & Trade Expo in Washington, D.C. today. “The commercial market has displayed modest growth lately,” said Yun. “Commercial real estate is the basis for much of the growth in the American economy, however challenges continue to exist... Read More
Housing Affordability Indices Reach Records in First Quarter - WASHINGTON (May 15, 2012) – Housing affordability conditions for all buyers reached a milestone in the first quarter, according to the National Association of Realtors®. NAR's composite quarterly Housing Affordability Index* rose to a record high of 205.9 in first quarter, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power. This is the first time the quarterly... Read More
Member Profile - In 2011, the housing market continued to stabilize and some areas of the country saw improvement in sales. Data from the Investment and Vacation Home Buyers Survey shows that while primary residence buyers dipped, the share of investment buyers entering the market rose to 27 percent from 17 percent. Investment buyers entered the market via buying distressed properties and often working with a real estate professional to assist in their purchase. Resonating with a strengthening economy, commercial real estate markets turned the corner. Demand stabilized in 2011 and is expected to... Read More
2012 NAR Member Survey Shows Rising Incomes - WASHINGTON (May 14, 2012) – The income and business of Realtors® is growing after many years of decline, according to the 2012 National Association of Realtors® Member Profile.  The study’s results are representative of the nation’s Realtors®, who are members of NAR.  Realtors® account for about half of the 2 million active real estate licensees in the U.S.*  Realtor® members go beyond state licensing requirements by subscribing to NAR’s Code of Ethics and Standards of Practice, commit to continuing education and... Read More
First Quarter Metro Area Home Prices Stabilizing, Sales Up and Inventory Down - WASHINGTON (May 9, 2012) – Median existing single-family home prices are firming in many metropolitan areas, while improving sales and declining inventory are creating more balanced conditions, according to the latest quarterly report by the National Association of Realtors®. The median existing single-family home price rose in 74 out of 146 metropolitan statistical areas1 (MSAs) based on closings in the first quarter from the same quarter in 2011, while 72 areas had price declines.  In... Read More
Commercial Lending Survey - The Commercial Real Estate Lending Survey is conducted annually and provides an overview of lending conditions that impact commercial transactions nationally, based on responses from commercial real estate members. The 2012 survey shows that while commercial markets turned a corner in 2011, commercial lending standards have tightened in the past year for small businesses and have remained an obstacle to a major portion of contracted transactions for smaller properties. Report Highlights Sixty-seven percent of REALTORS® found that the lack of available... Read More
Tight Lending Standards Hindering Commercial Real Estate Recovery - WASHINGTON (May 3, 2012) - Although commercial real estate markets showed signs of recovery in 2011, commercial lending standards have tightened in the past year for small businesses and scuttled a major portion of contracted transactions for smaller properties, according to the National Association of Realtors® annual Commercial Real Estate 2012 Lending Survey. Lawrence Yun, NAR chief economist, said there is a significant split in commercial lending depending on value. "This is very much a tale of two markets. There have been notable improvements in capital for large... Read More
Social Benefits of Homeownership and Stable Housing - This 16-page paper looks at how homeownership leads to positive social outcomes. It examines not only the ownership of homes, but also the impact of stable housing.  
March Pending Home Sales Rise, Market Recovering - WASHINGTON (April 26, 2012) – Pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February and is 12.8 percent above March 2011 when it was 89.9.  The data reflects contracts but not closings. The index is now at... Read More
Data - Overview The NATIONAL ASSOCIATION OF REALTORS® affordability index measures whether or not a typical family could qualify for a mortgage loan on a typical home. A typical home is defined as the national median-priced, existing single-family home as calculated by NAR. The typical family is defined as one earning the median family income as reported by the U.S. Bureau of the Census. The prevailing mortgage interest rate is the effective rate on loans closed on existing homes from the Federal Housing Finance Board. These components are used to determine if the... Read More
Home Price Monitor - Highlights: On a month-to-month basis most home price measures showed growth in February, in a typical seasonal fashion. The exceptions were Case-Shiller's 10- and 20-city indexes and CoreLogic's HPI which showed small declines. Early measures for March show a more positive month-to-month trend. More encouragingly, on a year-over-year basis, price declines were generally smaller across measures in February, and FHFA data showed slight price growth over the year. Early data for March suggest a strengthening of the year-over-year growth trend.... Read More
Existing-Home Sales Decline in March but Inventory Down, Prices Stabilizing - WASHINGTON (April 19, 2012) – Existing-home sales were down in March but continue to outpace year-ago levels, while inventory tightened and home prices are showing further signs of stabilizing, according to the National Association of Realtors®. Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 2.6 percent to a seasonally adjusted annual rate of... Read More
REALTORS® Confidence Index - March 2012 Highlights This month’s RCI shows a market starting to turn with continued recovery. Confidence and price expectations are up, rising rental rates have favorable implications for the residential market, and time on market continues to decrease. Prices and interest rates continue to be attractive. Given that the typical homeowner will occupy a house for approximately 8 years and that home ownership is basically a lifestyle decision, one can make a very good case that this is agood time to buy a house, remembering that staying within a reasonable budget and... Read More
Technology for RSPS Realtors - Presenter: Melanie McLane. During this session, learn how to use resort-specific media sites to help increase your business.
Resort Policy Update/Townhall Meeting - NAR Senior Regulatory Policy Representative Russell Riggs, will update you on the most current issues relevant to your market.
Securing Your Online Assets - Jason Beatty, Sr. Network Systems Administrator at NAR will help you determine your risk exposure and create a plan to secure your digital assets.
2012 Economic and Housing Market Outlook - Keynote speaker: Lawrence Yun, NAR Chief Economist, will provide insight to resort and second-home market trends.
Bidding Wars Are Back, Agents Say - Some real estate markets are reporting that home buyers are having to pay more than asking price to get the home they desire, as the supply of for-sale homes has shrunk, Bloomberg News reports.
How Do Men, Women Make Home Buying Decisions? - While the price of a home and its square footage are important factors in judging a home, women and men also base their decision largely on how they “feel” and whether the home fits their lifestyle, according to a new survey by Coldwell Banker Real Estate.
More Americans Pay Car Loans Before Mortgages - Americans are prioritizing their debt payments by opting to pay their car loans before mortgages and credit cards, according to an analysis by credit reporting bureau TransUnion.
Home Owners Planning Remodeling Projects This Year - Seventy percent of home owners surveyed say they intend to take on a home improvement project this year, and they plan to spend about $3,500 on sprucing up their home, according to the survey. That’s an increase of about $100 compared to last year.
Next Foreclosure Wave Coming: Reason for Alarm? - Economists have been warning that a flood of foreclosures will soon be hitting the real estate market, likely this summer. Increases in foreclosures traditionally pull down nearby home prices. So should home owners be worried?
Smartphone Adoption Surges - Real estate professionals are tackling more mobile outreach markets efforts to reach clients — making sure their Web site is easy to view and use from a phone, adopting QR codes in marketing, and even creating apps that potential clients can use to access real estate information while on-the-go.
30-Year Mortgage Rates Slide Back Below 4% - Mortgage rates were down across the board this week compared to last week, according to Freddie Mac’s weekly mortgage market survey. After posting a big jump last week, 30-year mortgage rates were back below the 4 percent mark this week, offering another boost in home affordability for buyers.
More Americans Pay Car Loans Before Mortgages - Americans are prioritizing their debt payments by opting to pay their car loans before mortgages and credit cards, according to an analysis by credit reporting bureau TransUnion.
6 Metros With the Most New Construction - Construction slowed dramatically in recent years but has been showing signs of picking up in pockets across the country.
Pending Home Sales Ease in February but Solidly Higher Than a Year Ago - Pending home sales were down slightly in February but remain notably above the pattern in the first half of last year, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, eased 0.5 percent to 96.5 in February from 97.0 in January but is 9.2 percent above February 2011 when it was 88.4. The data reflects contracts but not closings. Lawrence Yun, NAR chief economist, said we’re seeing the continuation of an... Read More
Research Data FAQ - Frequently Asked Questions: Data Commercial Real Estate Q: Does NAR have any data on commercial real estate? A: Yes. All links to commercial data can be found here. Foreclosures and Short Sales Q: Does NAR have data on foreclosures and short sales? A: Information on both foreclosures and short sales can be found in the... Read More
FHA Loan Apps Rise as Borrowers Try to Beat Fee Hikes - Mortgage applications for Federal Housing Administration loans soared 11 percent from the previous week as borrowers try to rush their applications in to beat the higher FHA costs that will start rolling out on Monday, according to the U.S. Mortgage Market Index report released from Mortech Inc. and Mortgage Daily.
Poll: Renters Want to Buy - Americans still believe in home ownership, but they’re spooked about the mortgage process, a survey finds. Two-thirds of renters -- across educational and demographic levels -- say they want to purchase a home in the future, according to a quarterly national housing survey of 3,000 Americans conducted by Fannie Mae.
February Existing-Home Sales Slip But Up Strongly From a Year Ago - Washington, March 21, 2012 February existing-home sales declined from an upwardly revised January pace but are well above a year ago, while the median price posted a slight gain, according to the National Association of Realtors®. Sales were up in the Midwest and South, offset by declines in the Northeast and West. Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, slipped 0.9 percent to a... Read More
Data - WASHINGTON (April 19, 2012) – Existing-home sales were down in March but continue to outpace year-ago levels, while inventory tightened and home prices are showing further signs of stabilizing, according to the National Association of Realtors®. Read the entire press release >... Read More
Real Estate Research Centers - Various academic institutions and independent organizations around the U.S. have established research centers to study real estate-related issues and trends. These resources include state and local association library/research sources, as well as Internet sites, to reference in addition to the research and resources NAR and REALTOR® University provide. If you know of a real estate research resource not listed here, or if your state or local board offer research for use by members, let us know by calling 800-874-6500 so we can add it here. National,... Read More
Chief Economist Lawrence Yun Discusses Rebenchmarking EHS Data - In this video, NAR Chief Economist Lawrence Yun discusses the rebenchmarking of EHS data.
International Home Buying Update - Read the reports in question: Profile of International Home Buying Activity Profile of International Home Buying in Florida Profile of International Home Buying in Miami
Rich Stay Put Longer When in Foreclosure, Study Says | -A A +A Rich Stay Put Longer When in Foreclosure, Study Says - How pricey your home is may influence how quickly you're evicted from a home in foreclosure, finds a new study.
March/April 2012 Market Pulse - Existing-home sales improved in January from the previous month by 4.3 percent, pointing to improved sales in 2012 if the trend holds. NAR’s forward-looking pending home sales index, with a 2 percent gain in January, also points to sales growth. The latest pending sales level, at 97.0, is at its highest in the last five years, not counting the spikes caused by the home buyer tax credit in 2009 and 2010.
The Importance of Connections - Maybe it’s all the tweeting I’ve been doing (via @realtormag), but 400 words feels like a lot to write about one topic. Instead, a potpourri.
2012 List Issue: Take the Lead - We've compiled 229 tips and trends to help you get where you want to be. Now, the ball's in your court.
7 Secrets to Winning Over More Buyers - What are buyers really thinking, and how can you better assist them? Here’s how to start improving your buyer relationships.
January Pending Home Sales Rise, Market on Uptrend - Washington, DC, February 27, 2012 Pending home sales are on an upward trend, which has been uneven but meaningful since reaching a cyclical low last April, and are well above a year ago, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 2.0 percent to 97.0 in January from a downwardly revised 95.1 in December and is 8.0 percent higher than January 2011 when it was 89.8. The data reflects contracts but not closings. The... Read More
Commercial Real Estate Vacancy Rates Improving, Rents Firming - Washington, DC, February 24, 2012 According to the National Association of Realtors® quarterly commercial real estate forecast, all of the major commercial real estate sectors are seeing improved fundamentals, but multifamily housing is becoming a landlord’s market commanding bigger rent increases. These trends also are confirmed in NAR’s recent quarterly Commercial Real Estate Market Survey. Lawrence Yun, NAR chief economist, said vacancy rates are improving... Read More
Existing-Home Sales Rise Again in January, Inventory Down - Washington, DC, February 22, 2012 Existing-home sales rose in January, marking three gains in the past four months, while inventories continued to improve, according to the National Association of Realtors®. Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 4.3 percent to a seasonally adjusted annual rate of 4.57 million in January from a downwardly revised 4.38 million-unit pace in... Read More
State-by-State Economic Impact of Real Estate Activity - How is the housing market in your state affecting the local economy? These reports outline the total economic impact of real estate related industries on the state economy, as well as the expenditures that result from a single home sale, including aspects like home construction costs, real estate brokerage, mortgage lending and title insurance. Find out how much the real estate industry is affecting the gross state product for your area. The reports below are in PDF format. The size of each file is approximately 160 KB. ... Read More
Metro Area Unemployment Trends - Highlights While the unemployment rate is not yet back to normal in most areas, improvement is unmistakable. Pockets of trouble remain in California and Florida. From one year ago, 26 of the 27 metro areas studied have job gains. Of the 27 areas, Houston had the biggest percent growth in payrolls in the last year while only Milwaukee saw a decline of about 200 jobs. Among the 27 metro areas reviewed, the Washington, D.C. area had the lowest unemployment rate, below 6 percent in February, while Las Vegas continues to have the highest, at 12.7... Read More
5 Housing Markets Expected to Outshine All the Rest - Inman News released a report highlighting metro areas that are expected to “outshine many other markets in real estate performance this year.” In its report, Inman News scanned metro areas with populations over 150,000 to find where real estate sales volume is rising, job markets are growing, foreclosure activity is low, sales prices are appreciating, and home affordability is at high levels.
Pending Home Sales Decline in December, Remain Above a Year Ago - Washington, January 25, 2012 After reaching a 19-month high, pending home sales eased in December but stayed above year-ago levels, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, declined 3.5 percent to 96.6 in December from 100.1 in November but is 5.6 percent above December 2010 when it was 91.5. The data reflects contracts but not closings. Lawrence Yun, NAR chief economist, said the trend... Read More
Public Policy - Use these resources from NAR and other organizations on specific public policies issues of interest to REALTORS®.        ... Read More
Technology - Check out our reports for information on the role of technology in real estate, statistics on how REALTORS® use technology, and more. NAR Web Site Traffic Statistics Find out who visits NAR's Web sites, REALTOR.com® and REALTOR.org, and how often. Learn what's important to fellow REALTORS® and the general public plus know REALTOR.com's position in the real estate vertical marketplace. ... Read More
December Existing-Home Sales Show Uptrend - Washington, DC, January 20, 2012 Existing-home sales continued on an uptrend in December, rising for three consecutive months and remaining above a year ago, according to the National Association of Realtors®. The latest monthly data shows total existing-home sales1 rose 5.0 percent to a seasonally adjusted annual rate of 4.61 million in December from a downwardly revised 4.39 million in November, and are 3.6 percent higher than the 4.45 million-unit level in December 2010... Read More
Inflation Watch - April Highlights: Monthly consumer prices increased substantially for goods such as lodging, meats, transportation and medical care. This pulled up the headline price measure 0.3 percent in March while producer prices were flat. Prices are higher than a year ago - by 2.7 percent for consumers and 2.8 percent for producers - less so than they were in February. Core consumer prices (those excluding food and energy) are just outside the bounds of the target range of 1 to 2 percent. In part because prices are still within these bounds... Read More
Research Reports - Member Profile Based on a random sampling of NAR’s membership, the 2012 Member Profile strives to answer the question: Who are REALTORS®? It looks at a variety of economic and demographic characteristics, and business practices. Local Market Reports NAR Research has local information on markets, state taxes and fiscal conditions, wealth gain by metro area, subprime ARM performance, mortgage conditions, the economic impact of real estate, and existing home sales and... Read More
Housing Statistics - Existing-Home Sales NAR releases national and regional existing-home sales price and volume statistics on or about the 25th of each month. Each report includes data for 12 months and annual totals going back three years. Reports are available for existing single-family homes, condos, and co-ops. Both median and average prices are included. Pending Home Sales Index This leading indicator for housing activity is released during the first week of each month. The index measures... Read More
Local Market Reports - All real estate is local and every market is unique. To help REALTORS® and other housing market analysts get the most out of the plethora of data that is available, NAR Research produces a series of Local Market Reports (LMRs) which provide insights into the fundamentals and direction of the nation's largest metropolitan housing markets. Each report evaluates a number of factors affecting home prices, including: The health of the local job market Foreclosure rates Housing inventory Debt-to-income and mortgage-servicing-costs-... Read More
Surveys of Realtor Sentiment - Local data is critical to understanding local markets, but real time information is best. Each Survey of REALTOR® Sentiment/ Regional Vice-Presidential Report (RVPR) is a collection of results from NAR's most recent REALTOR® Confidence Index along with commentary from NAR's Regional Vice President for that region. These RVPRs—which reflect data available through October 2011—provide insights into the buzz on the street for each of the regional housing markets. Note: If you do not see information provided for your state, please contact... Read More
Background - Each year, the National Association of REALTORS® surveys home buyers and sellers to gather detailed information about the home buying and selling process. These surveys provide information on demographics, housing characteristics and the experience of consumers in the housing market. Buyers and sellers also share information on the role that real estate professionals play in home sales transactions. In July 2011, NAR mailed out a questionnaire survey to a random sample of 80,099 recent home buyers. The recent home buyers had to have purchased a home between July... Read More
Profile of International Home Buying in Miami - In October 2011, NAR Research conducted a survey for the Miami Association of REALTORS®. They received 726 responses to questions that focused on REALTORS®' experiences during past 12 months. The analysis indicates that international sales are an important niche, yet growing, market; are based mostly on referrals; and result in transactions significantly above current median prices. Read survey results > (PDF: 1 MB)
Profile of International Home Buying in Florida - To assess the significance of foreign home buyers in Florida, the NATIONAL ASSOCIATION OF REALTORS®, in cooperation with the Florida REALTORS® Association conducted a survey of Florida REALTORS®, asking the membership about their experiences in working with international clients. The survey was conducted during the late June/early July 2011, and requested information on REALTOR® experience with international buyers over the previous 12 months. Accordingly, the conclusions for this year's survey are applicable to the 12 months ending June 2011. A total of 1024... Read More
Profile of International Home Buying Activity - We live in a global marketplace. While all real estate is local, not all property buyers are. A significant share of home purchases are made by people whose primary residence is outside of the U.S. Find out which are the top five countries of origin for foreign home buyers, how these buyers are using the services of REALTORS®, and more about international buyers in Florida and Miami in the following reports. Profile of International Home Buying Activity 2011 Profile... Read More
Housing Pulse Survey 2010 - Americans Still Believe Buying a Home Is a Good Financial Decision NAR's eighth annual Housing Opportunity Pulse Survey reveals that nearly eight out of 10 respondents believe buying a home is a good financial decision, despite ongoing challenges with the economy and housing market. The survey, which measures how affordable housing issues affect consumers, also found job security concerns to be the highest in eight years of sampling, with 70 percent of Americans saying that job layoffs and unemployment are a big problem in their area; eight in 10 cite these issues as a... Read More
Housing Pulse Surveys - The Housing Pulse Survey is an annual telephone survey of 1000 urban and suburban adults in the top 25 media markets, designed to assist NAR in gaining information on consumers' attitudes and concerns about housing opportunities. 2011 2010
Commercial Leading Indicator - The index is designed to provide early signals of turning points between expansions and slowdowns in commercial real estate. NAR reviewed a wide variety of indicators, examined the relationships of indicators that demonstrated a historical impact on commercial real estate, and modeled a forward looking index based on historic trends. Quarterly data for 13 selected series were reviewed back through the first quarter of 1990. The modeling demonstrated a change in commercial brokerage activity that could be seen two quarters later as measured by net absorption in the industrial and... Read More
Home Buyers and Sellers - Social Benefits of Homeownership and Stable Housing This 16-page paper from 2012 looks at how homeownership leads to positive social outcomes. It examines not only the ownership of homes, but also the impact of stable housing. Homebuyer Tax Credit Information As part of the Housing and Economic Recovery Act of 2008, a First-time Homebuyer Tax Credit is now... Read More
Real Estate Business - Social Benefits of Homeownership and Stable Housing This 16-page paper from 2012 looks at how homeownership leads to positive social outcomes. It examines not only the ownership of homes, but also the impact of stable housing. Homebuyer Tax Credit Information As part of the Housing and Economic Recovery Act of 2008, a First-time Homebuyer Tax Credit is now... Read More
International Real Estate - Profile of International Home Buying Activity We live in a global marketplace. While all real estate is local, not all property buyers are. A significant share of home purchases are made by people whose primary residence is outside of the U.S. The 2011 Profile of International Home Buying Activity will reveal the top five countries of origin for foreign home buyers and how these buyers are utilizing the services of REALTORS®. ... Read More
Commercial Real Estate - Commercial Real Estate: Overview and Outlook This 2011 report covers the economic conditions underpinning current commercial real estate markets and presents trends in market fundamentals, investments and financing. List of Markets Covered Commercial Real Estate Lending Survey The 2012 Commercial Lending Survey provides insights into REALTORS®' commercial... Read More
Several Housing Markets Head for Appreciation in 2012 - A boom in farm prices has caused many Midwest cities to emerge as leaders for some of the strongest predictions for housing appreciation in 2012. Kansas City, Kan., came in the top spot in HousingPredictor’s annual survey, forecasting an appreciation of 5.8 percent for this year.
State Employment Trends - Release date: April 2012 March 2012 Data Highlights Unemployment: The US unemployment rate was 8.2 percent in March, down from 8.3 in February and down from 8.9 percent in March 2011. The majority of states saw an improvement in the employment rate. Thirty states saw the unemployment rate improve in March; an additional 12 states and D.C. saw no increase. From one month ago, Mississippi and Oklahoma had the biggest improvements, seeing a 0.6 percent drop in the unemployment rate. Since March one year ago,... Read More
Commercial Real Estate Market Survey - The REALTORS® Commercial Real Estate Market Survey is a new quarterly project from Research that measures activity in the commercial real estate markets. The survey collects data from commercial REALTORS® and is designed to provide members with an overview of the market performance, sales and rental transactions, current economic challenges, and future expectations.
Background - Overview After several years of study and data collection, the NATIONAL ASSOCIATION OF REALTORS® developed the Pending Home Sales Index (PHSI), a new leading indicator of housing market activity. Based on the data from Multiple Listing Services (MLSs) and large brokers, the index provides advance information on future home-sales activity and offers more solid information on changes in the direction of the market than any of the indicators currently available. Specifically, pending home sales become existing home sales one to two months later. This means... Read More
Expansion and Survey - The NATIONAL ASSOCIATION OF REALTORS® issues Existing-Home Sales (EHS) data on a monthly basis to provide accurate and timely information on the state of the U.S. housing market. The EHS report provides a basis for our membership to understand housing trends and is widely reported by the national press. In addition, the report enhances the effectiveness of NAR's political and representational efforts on behalf of our members on Capitol Hill. Help Us Expand Coverage: Complete Our Survey In order to expand... Read More
Benchmarking - NAR takes its role as a leading source for housing information very seriously, and toward that end, NAR research announced the results of a year-long rebenchmarking process for existing-home sales on Wednesday, December 21.  All major statistical data series go through periodic reviews and revisions to ensure that sampling and methodology keep up with changes in the market. Factors like population changes in sampled areas, growth in MLS coverage areas, declines in for-sale-by-owner transactions, and some individual sales being recorded in more than one MLS have... Read More
Definitions - In 2005, the NATIONAL ASSOCIATION OF REALTORS® updated its Metropolitan Statistical Area (MSA) Home Price Series based on new information from the U.S. Office of Management (OMB) in 2003. The MSAs in our metro home price report are now based on 2000 Census Data. The OMB defines an MSA as an area having at least one urbanized area of 50,000 or more in population, plus adjacent territory that has a high degree of social and economic integration with the core as measured by commuting ties. Previously, NAR’s MSA Home Price Series was based on the OMB... Read More
Methodology - The NATIONAL ASSOCIATION OF REALTORS® affordability index measures whether or not a typical family could qualify for a mortgage loan on a typical home. A typical home is defined as the national median-priced, existing single-family home as calculated by NAR. The typical family is defined as one earning the median family income as reported by the U.S. Bureau of the Census. The prevailing mortgage interest rate is the effective rate on loans closed on existing homes from the Federal Housing Finance Board and... Read More
Commercial Real Estate Market Outlook - The Commercial Real Estate Outlook (CREO) is NAR's flagship commercial research publication. It is produced quarterly and includes the latest market information on five major commercial real estate sectors — industrial, office, multi-family, retail and hospitality real estate. The publication includes national and metropolitan data from the respected research firms of CBRE Econometric Advisors and Real Capital Analytics, along with in-depth analysis from NAR Research. The full report is available only to NAR members, and the summary report is open to all... Read More
Methodology - Each month, the Research Division of the NATIONAL ASSOCIATION OF REALTORS® receives data on existing-home sales (single-family, condos and co-ops) from local associations/boards and multiple listing services (MLS) nationwide. NAR captures 30-40% of all existing-home sale transactions with its monthly survey. The data provide the total number of closed existing-home sales in each association/board/MLS and also total sales within price categories ranging from less than $30,000 to more than $600,000. Participants of the survey are situated in every region of the country and... Read More
Pending Home Sales Jump in October - Washington, DC, November 30, 2011 Pending home sales rose strongly in October and remain above year-ago levels, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, surged 10.4 percent to 93.3 in October from 84.5 in September and is 9.2 percent above October 2010 when it stood at 85.5. The data reflects contracts but not closings. Lawrence Yun, NAR chief economist, said improved contract activity is... Read More
Field Guide to Quick Real Estate Statistics - (Updated November 2011) Looking for quick statistics for your sales meeting or a customer brochure? Need a quick fact to make your point? Information Central has compiled some of the most requested statistics for quick and easy access. Find the information that you need, as well as its source, at a glance. (K. Janisch, Information Specialist) Real Estate and the Economy A quick list of up-to-date Housing and Economic... Read More
NAR Home Buyer and Seller Survey Reflects Tight Credit Conditions - Anaheim, November 11, 2011 Recent home buyers are staying well within their means with notably higher incomes and modestly higher downpayments than buyers in the previous year due to the restrictive mortgage credit environment, despite historically favorable housing affordability conditions, according to a study released today at the 2011 Realtors®  Conference & Expo. The 2011 National Association of Realtors® Profile of Home Buyers and Sellers is the latest in a long-running series of large national NAR surveys evaluating demographics,... Read More
Field Guide to Working with Single Home Buyers - (Updated December 2011) The real estate market in the United States is comprised of a great diversity of buyers, each with unique needs and concerns. Understanding how to best serve these unique needs will assist you establishing an outstanding service and reputation for your real estate business. Single home buyers represent a sizeable portion of home buyers in the current residential real estate market, and are an audience worth knowing and understanding. This Updated Field Guide will help you to learn about the needs, concerns, and buying... Read More
State-by-State International Business Reports - International transactions are of increasing importance. U.S. imports and exports of goods and services are each in the $2 trillion range each year. With the expansion of international trade, the flow of people across borders has also increased rapidly, and, therefore, the demand for real estate in both residential and commercial sectors in conjunction with international transactions has been on the rise. NAR provides the state-by-state reports on international transactions below to give an overview of the real estate markets on a state-by-state basis as well as information on economic... Read More
Real Estate Market and Economic Outlook - Presentation at the 2011 Leadership Summit, Chicago, IL
Third Quarter Metro Area Prices Soften but State Sales Broadly Rise - Washington, DC, November 09, 2011 Metro area median existing-home prices in the third quarter generally were down from a year ago, while sales rose in every state from the third quarter of 2010, according to the latest quarterly report by the National Association of Realtors®. The median existing single-family home price rose in 39 out of 150 metropolitan statistical areas1 (MSAs) in the third quarter from a year earlier; 111 areas showed price declines. In the second quarter, 41... Read More
November 7, 2011 - In This Issue Housing Issues Update NAR Shows Support for HOME Program VA (Veterans Administration) VA Funding Fee Update Housing Issues Update NAR Shows Support for HOME Program NAR joined a number of coalition partners to support the HOME program, as the House Financial Services... Read More
September Pending Home Sales Down, Still Higher Than a Year Ago - Washington, DC, October 27, 2011 Pending home sales declined in September, although activity remains above a year ago, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, fell 4.6 percent to 84.5 in September from 88.6 in August but is 6.4 percent higher than September 2010 when it stood at 79.4. The data reflects contracts but not closings. Lawrence Yun, NAR chief economist, said the housing market... Read More
Pending Home Sales Decline in August but Remain Above a Year Ago - Washington, DC, September 29, 2011 Pending home sales slipped in August with a mixed regional performance but are higher than a year ago, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, declined 1.2 percent to 88.6 in August from 89.7 in July but is 7.7 percent above August 2010 when it stood at 82.3. The data reflects contracts but not closings. Lawrence Yun, NAR chief economist, said the... Read More
August Existing-Home Sales Rise Despite Headwinds, Up Strongly from a Year Ago - Washington, DC, September 21, 2011 Existing-home sales increased in August, even with ongoing tight credit and appraisal problems, along with regional disruptions created by Hurricane Irene, according to the National Association of Realtors®. Monthly gains were seen in all regions. Total existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 7.7 percent to a seasonally adjusted annual rate of 5.03 million in August from an upwardly revised 4.67... Read More
Pending Home Sales Slip in July but Up Strongly From One Year Ago - Washington, DC, August 29, 2011 Pending home sales declined in July but remain well above year-ago levels, according to the National Association of Realtors®. All regions show monthly declines except for the West, which continues to show the highest level of sales contract activity. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, slipped 1.3 percent to 89.7 in July from 90.9 in June but is 14.4 percent above the 78.4 index in July 2010. The data reflects contracts but not closings.... Read More
Second Quarter Metro Area Prices Mixed with Little Change, State Sales Down - Washington, DC, August 10, 2011 Median existing-home prices declined modestly in the second quarter with 27 percent of metropolitan areas experiencing price gains from a year ago, while state home sales declined from the second quarter of 2010, according to the latest quarterly report by the National Association of Realtors®. The median existing single-family home price rose in 41 out of 151 metropolitan statistical areas1 (MSAs) in the... Read More
Pending Home Sales Rise in June - Washington, DC, July 28, 2011 Pending home sales increased in June following a wide swing down in April and then up in May, according to the National Association of Realtors®. Activity increased in the West and South but declined in the Midwest and Northeast; all regions show strong double-digit gains from a year ago. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 2.4 percent to 90.9 in June from 88.8 in May and is 19.8 percent above the 75.9 reading in June 2010, which was the low... Read More
June Existing-Home Sales Slip on Contract Cancellations, but Prices Stabilize - Washington, DC, July 20, 2011 Existing-home sales eased in June as contract cancellations spiked unexpectedly, although prices were up slightly, according to the National Association of Realtors®. Sales gains in the Midwest and South were offset by declines in the Northeast and West. Single-family home sales were stable while the condo sector weakened. Total existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, declined 0.8 percent to a... Read More
Pending Home Sales Turn Around in May - Washington, DC, June 29, 2011 Pending home sales rose strongly in May with all regions experiencing gains from a year ago, pointing to higher housing activity in the second half of the year, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 8.2 percent to 88.8 in May from an upwardly revised 82.1 in April and is 13.4 percent higher than the 78.3 reading in May 2010. The data reflects contracts but not closings, which normally... Read More
Housing Pulse Survey 2011 - Survey Shows Opposition to Down Payment Requirements and Elimination of Mortgage Interest Deduction NAR’s ninth housing pulse survey reflects that, as the housing market continues to struggle, Americans worry that policy proposals coming out of Washington could drag the market down further or deter potential new homeowners. There is particular concern surrounding calls for a required down payment of 20 percent on home purchases. Seven-in-ten Americans say requiring a down payment of 20 percent on the cost of a home would have a negative impact on the housing... Read More
Existing-Home Sales Decline in May with Market Constraints, Temporary Conditions - Washington, DC, June 21, 2011 Existing-home sales were down in May as temporary factors and financing problems weighed on the market, according to the National Association of Realtors®. Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell 3.8 percent to a seasonally adjusted annual rate of 4.81 million in May from a downwardly revised 5.00 million in April, and are 15.3 percent below a 5.68 million pace in May 2010 when sales... Read More
April Pending Home Sales Drop After Two Monthly Gains - Washington, DC, May 27, 2011 Pending home sales fell in April with regional variations following increases in February and March, with unusual weather and economic softness adding to ongoing problems that are hobbling a recovery, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, dropped 11.6 percent to 81.9 in April from a downwardly revised 92.6 in March. The index is 26.5 percent below a cyclical peak of 111.5 in April 2010 when buyers... Read More
Commercial Real Estate Markets Stabilizing, Demand Growing - Washington, DC, May 24, 2011 The improving economy and job creation mean growing demand for commercial real estate, according to the National Association of Realtors®. Lawrence Yun, NAR chief economist, said job creation will be the biggest factor moving forward. “Job growth creates demand for commercial space, and the economy should be adding between 1.5 million and 2 million jobs annually both this year and in 2012, with the unemployment rate falling to 8.0 percent by the end of next year,” he said. “Given the... Read More
April Existing-Home Sales Ease - Washington, DC, May 19, 2011 Existing-home sales slipped in April, although the market has managed six gains in the past nine months, according to the National Association of Realtors®. Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, eased 0.8 percent to a seasonally adjusted annual rate of 5.05 million in April from a downwardly revised 5.09 million in March, and are 12.9 percent below a 5.80 million pace in April 2010; sales surged in April... Read More
NAR Member Survey Shows Focus on Training, Commitment to Profession - Washington, DC, May 17, 2011 Realtors® have been focusing more on training to help them better meet the needs of clients in a housing market with unique challenges, according to the 2011 National Association of Realtors® Member Profile. The study’s results are representative of the nation’s Realtors®, who account for more than half of the approximately 2.0 million active real estate licensees in the U.S. The typical NAR member has 12 years of experience; nine out of 10 say they are certain they will remain... Read More
NAR Chief Economist Sees Sluggish but Improving Commercial Outlook - Washington, DC, May 13, 2011 The commercial real estate market continues a slow pace toward recovery with occupancy rates rising in the office and industrial properties in most major cities across the U.S. supported by rising employment and restocking of wholesale inventory, according to National Association of Realtors® Chief Economist Lawrence Yun. At the “Economics Issues and Commercial Business Trends Forum,” Yun identified bright spots and challenges within the commercial sector. The forum took place during the Realtor® Midyear Legislative... Read More
Housing and Economic Forecast Points to Rising Activity - Washington, May 12, 2011 Home sales are expected to stay on an uptrend through 2012, although the performance will be uneven with mortgage constraints weighing on the market, according to experts at a residential real estate forum today at the Realtors® Midyear Legislative Meetings & Trade Expo here. Lawrence Yun, NAR chief economist, said existing-home sales have been underperforming by historical standards and will rise gradually but unevenly. “If we just hold at the first-quarter sales pace of 5.1 million, sales this... Read More
Housing Finance Market Reform Must Ensure Mortgage Affordability, Availability - Washington, May 10, 2011 Reforms to America’s housing finance market must ensure a reliable source of affordable mortgage lending for creditworthy consumers. That’s according to Realtors® and other industry insiders who examined the federal government’s future role in the secondary mortgage market at the “Fannie Mae & Freddie Mac: Obama Options and Beyond” session during the National Association of Realtors® 2011 Midyear Legislative Meetings & Trade Expo, here through... Read More
Existing-Home Sales Rise in Most States in First Quarter; Metro Area Prices Mixed - Washington, DC, May 10, 2011 Existing-home sales continued to recover in the first quarter with gains recorded in 49 states and the District of Columbia, while 22 percent of the available metropolitan areas saw prices rise from a year ago, according to the latest survey by the National Association of Realtors®. Total state existing-home sales, including single-family and condo, rose 8.3 percent to a seasonally adjusted annual rate1 of 5.14 million in the first quarter from 4.75 million... Read More
Pending Home Sales Rise Again in March - Washington, DC, April 28, 2011 March saw another increase in pending home sales, with contract activity rising unevenly in six of the past nine months, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 5.1 percent to 94.1 in March from a downwardly revised 89.5 in February. The index is 11.4 percent below 106.2 in March 2010; however, activity was at elevated levels in March and April of 2010 to meet the contract deadline for the... Read More
Existing-Home Sales Rise in March - Washington, DC, April 20, 2011 Sales of existing-home sales rose in March, continuing an uneven recovery that began after sales bottomed last July, according to the National Association of Realtors®. Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 3.7 percent to a seasonally adjusted annual rate of 5.10 million in March from an upwardly revised 4.92 million in February, but are 6.3 percent below the 5.44 million pace in March 2010.... Read More
Vacation- and Investment-Home Shares Hold Even in 2010 - Washington, DC, March 30, 2011 The market share of vacation- and investment-home sales1 held steady in 2010, although the sales volume declined with the overall market, according to the National Association of Realtors®. NAR’s 2011 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2010, shows vacation-home sales accounted for 10 percent of transactions last year while the portion of investment sales was 17 percent, both unchanged from 2009. NAR Chief Economist ... Read More
February Pending Home Sales Rise - Washington, March 28, 2011 Pending home sales increased in February but with notable regional variations, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator, rose 2.1 percent to 90.8, based on contracts signed in February, from 88.9 in January. The index is 8.2 percent below 98.9 recorded in February 2010. The data reflects contracts and not closings, which normally occur with a lag time of one or two months. Lawrence Yun... Read More
February Existing-Home Sales Decline following Sustained Gains - Washington, DC, March 21, 2011 Existing-home sales fell in February following three straight monthly increases, according to the National Association of REALTORS®.  Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, dropped 9.6 percent to a seasonally adjusted annual rate of 4.88 million in February from an upwardly revised 5.40 million in January, and are 2.8 percent below the 5.02 million pace in February 2010. ... Read More
2011 Community Preference Survey - NAR's 2011 Community Preference Survey explores Americans' wants regarding neighborhood characteristics such as proximity to parks and shopping, walkability, and commuting time, and the trade-offs in home type and size that people may be willing to accept in order to obtain those neighborhood preferences. The survey reveals that most Americans would like to live in walkable communities where shops, restaurants, and local business are within an easy walk from their homes, as long as those communities can provide detached single-family homes. The survey also shows that most Americans... Read More
Pending Home Sales Decline in January - Washington, DC, February 28, 2011 Pending home sales eased moderately in January for the second straight month, but remain 20.6 percent above the cyclical low last June, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator, declined 2.8 percent to 88.9 based on contracts signed in January from a downwardly revised 91.5 in December. The index is 1.5 percent below the 90.3 level in January 2010 when a tax credit stimulus was in place. The data reflects contracts and not... Read More
Commercial Real Estate Vacancy Rates to Decline but Rent Recovery Delayed - Washington, DC, February 25, 2011 A stabilization trend is taking place in commercial real estate sectors, but in most markets rent will remain soft except for multifamily rentals, according to the National Association of Realtors®. Lawrence Yun, NAR chief economist, said a pullback in construction is helping stabilize the market. “Very limited construction of new commercial real estate over the past few years has essentially fixed the supply of available space,” he said. “This means vacancy rates could fall quickly... Read More
Existing-Home Sales Rise Again in January - Washington, DC, February 23, 2011 The uptrend in existing-home sales continues, with January sales rising for the third consecutive month with a pace that is now above year-ago levels, according to the National Association of REALTORS®. Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 2.7 percent to a seasonally adjusted annual rate of 5.36 million in January from a downwardly revised 5.22 million in December, and are 5.3 percent above... Read More
Home Price Stabilization Seen in Most Metro Areas during Fourth Quarter, Sales Up - Washington, DC, February 10, 2011 Home sales rebounded in 49 states during the fourth quarter with 78 markets – just over half of the available metropolitan areas – experiencing price gains from a year ago, while most of the rest saw price weakness, according to the latest survey by the National Association of REALTORS®. Total state existing-home sales, including single-family and condo, jumped 15.4 percent to a seasonally adjusted annual rate1 of 4.80 million in the... Read More
Pending Home Sales Continue Uptrend - Washington, January 27, 2011 Pending home sales improved further in December, marking the fifth gain in the past six months, according to the National Association of Realtors® The Pending Home Sales Index,* a forward-looking indicator, increased 2.0 percent to 93.7 based on contracts signed in December from a downwardly revised 91.9 in November. The index is 4.2 percent below the 97.8 mark in December 2009. The data reflects contracts and not closings, which normally occur with a lag time of one or two months. ... Read More
December Existing-Home Sales Jump - Washington, DC, January 20, 2011 Existing-home sales rose sharply in December, when sales increased for the fifth time in the past six months, according to the National Association of REALTORS®. Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 12.3 percent to a seasonally adjusted annual rate of 5.28 million in December from an upwardly revised 4.70 million in November, but remain 2.9 percent below the 5.44 million pace in December 2009.... Read More
The Impact of Hurricanes on Housing and Economic Activity: A Case Study for Florida - This report, produced by The NATIONAL ASSOCIATION OF REALTORS® Research Division and Commissioned by The Florida Association of REALTORS®  in April 2006, examines how the exceptionally strong hurricanes along the Gulf Coast affected home sales and the economy.

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