ORLANDO, Fla. (November 4, 2016) – More millennials entering their prime homebuying years, rising household formation, and continued job gains boosting overall demand are expected to be behind the slight increase in existing-home sales in 2017, according to a residential housing and economic forecast session here at the 2016 REALTORS® Conference & Expo.
WASHINGTON (November 3, 2016) — Persistent supply shortages throughout the country led to slightly faster home price appreciation during the third quarter, according to the latest quarterly report by the National Association of Realtors®. The report also revealed that seven of the 10 most expensive housing markets in the U.S. are in the West, including San Jose, California, which had a median single-family home price of $1 million for the second straight quarter.
The median existing single-family home... Read More
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The new Business Creation Index (BCI) was created to monitor local economic conditions from the perspective of NAR’s commercial members. The quarterly report offers insight from commercial real estate professionals into whether businesses are opening or closing by industry, population density, and subregion. On a monthly basis, it tracks three key questions related to local market conditions:
- An increase of businesses opening in local... Read More
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For most home buyers, the purchase of real estate is one of the largest financial transactions they will make. Buyers purchase a home not only for the desire to own a home of their own, but also because of changes in jobs, family situations, and the need for a smaller or larger living area. This annual survey conducted by the NATIONAL ASSOCIATION OF REALTORS® of recent home buyers and sellers provides insight into detailed information about their... Read More
WASHINGTON (October 31, 2016) — The quickening pace of home sales over the past year included a small rebound from two key segments of buyers who have been missing in action in recent years: first-time buyers and single women.
This is according to the National Association of Realtors®' annual Profile of Home Buyers and Sellers, which also found that for-sale-by-owner transactions remained at an all-time low of 8 percent for the second straight year. Nearly 90 percent of all... Read More
WASHINGTON (October 27, 2016) — Pending home sales shifted higher in September following August's notable dip and are now at their fifth highest level over the past year, according to the National Association of Realtors®. Increases in the South and West outgained declines in the Northeast and Midwest.
The Pending Home Sales Index,* a forward-looking indicator based on contract signings, grew 1.5 percent to 110.0 in September from a slight downward revision of 108.4 in August. With last month's gain, the index is... Read More
In this video, NAR Chief Economist Lawrence Yun talks about the decline in mortgage applications, the small increase in pending sales, signs of a stabilizing market, rising numbers of first-time homebuyers and their effects on wealth inequality. He also talks about sessions at the upcoming REALTORS® Conference & Expo in Orlando, FloridaMore Information
Dwelling 2.0: Exploring Changing View of "Dwelling" and the Impact on the Real Estate Industry
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How we use and the options that define living space have evolved over time and will likely continue to change in the future. The Dwelling 2.0 initiative focuses on the outside forces – demographics, technology, life-style preferences – that will influence the meaning of and use of dwellings, including detached single-family homes condos or newer options such as tiny homes.
In this report, the Strategic Thinking Advisory Committee explores how... Read More
WASHINGTON (October 20, 2016) — Existing-home sales rebounded strongly in September and were propelled by sales from first-time buyers reaching a 34 percent share, which is a high not seen in over four years, according to the National Association of Realtors®. All major regions saw an increase in closings last month, and distressed sales fell to a new low of 4 percent of the market.
In this video, REALTORS® talk about how they use the Profile of Home Buyers and Sellers, now celebrating its 35th year.
The information from this quiz was taken from the Remodeling Impact Report: Outdoor Features.
WASHINGTON (October 18, 2016) – When the first Profile of Home Buyers and Sellers was introduced 35 years ago by the National Association of Realtors®, mortgage rates were over four times higher than they are today and first-time buyers made up a much larger share of overall sales (44 percent). Over time, homebuyer tastes and behaviors have changed, yet many have stayed the same. In anticipation of the 2016 survey release on October 31, NAR has identified five noteworthy real estate trends since the survey’s inception.
NAR’s Profile of Home Buyers... Read More
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This infographic compares data from the past 35 years of the Profile of Home Buyers and Sellers to data from the latest report. Follow #NARHBSat35 on your social channels for more.More Information
- Read the news release about the 35th anniversary of NAR's Profile of Home Buyers and Sellers
NAR analyzed employment gains, population trends, income levels and housing conditions in the largest 100 metropolitan statistical areas across the country to identify the best purchase markets for millennial homebuyers.
The top 10 metro areas NAR identified were chosen for their above-average share of current millennial residents and recent movers, favorable employment opportunities and relatively low qualifying incomes needed to purchase a homeDownload and share this slideshow or the individual postcard infographic images.
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