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Housing Market Forecast

October 28, 2014

The housing market is beginning to roar back. Existing home sales have risen for two straight months after suffering declines since the summer months of last year. The pending contracts also show robust gains, implying home sales will further rise over the near term. Also there is sizable pent-up housing demand looking to emerge. The timing is uncertain, but the pent-up demand implies home sales have much room to rise over the next few years.

REALTORS® Price Expectations by State in Next 12 Months

October 28, 2014

Expected price movements depend on local conditions relating to housing demand and supply, demographics, and job growth. The difficulty in accessing mortgage financing and modest expectations about overall economic and job prospects are factors underpinning the modest price expectation. The expected price growth was highest in states with low inventory levels, strong cash sales, and strong growth sectors (e.g., technology, oil).

Pending Sales Post Solid Gain in May 2014

October 28, 2014

In this video, NAR Chief Economist Lawrence Yun talks about the "virtuous cycle" that could be created by rising inventory, the rise in employment, and rise in sales in the coming months. He also discusses affordability, mortgage rates, and underwriting standards.

Pending Home Sales Surge in May

October 28, 2014

WASHINGTON (June 30, 2014) — Pending home sales rose sharply in May, with lower mortgage rates and increased inventory accelerating the market, according to the National Association of Realtors®. All four regions of the country saw increases in pending sales, with the Northeast and West experiencing the largest gains.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, increased 6.1 percent to 103.9 in May from... Read More

The 5 Lowest-Cost U.S. Housing Markets in 2014 Q1

October 28, 2014
More Information

Local Market Reports

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-to-income ratios

... Read More

Is Student Debt Impacting the Housing Market?

October 28, 2014

Student loan debt is a growing concern for REALTORS®, because of its impact on household formation. What is NAR doing to address the issue of growing student debt? NAR's 2014 President, Steve Brown explains in his latest video.

The 49 percent of Americans who assess that having too much debt from college or student loans is a huge obstacle to home ownership is from National Association of REALTORS®, Housing Pulse Survey, July 2013.

The 29... Read More

The 5 Most Expensive U.S. Housing Markets in 2014 Q1

October 28, 2014
More Information Local Market Reports

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-to-income ratios
... Read More

Existing-home Sales Up Solidly in May

October 28, 2014

In this video, NAR Chief Economist Lawrence Yun talks about rising inventory and how it is helping to moderate price growth. He also discusses the inevitable rise of interest rates, job growth, and the need for loosening of underwriting standards.

REALTOR® University Speaker Series

October 28, 2014

NAR Research, in conjunction with REALTOR® University, is pleased to present a free learning resource for REALTORS® and life-long learners alike. The REALTOR® University Speaker Series is a luncheon lecture series that is open to students, members, and the public. Each month, an expert on housing or the economy is invited to speak at the REALTOR® building in Washington, D.C. For those that aren’t in D.C., the series is also available on video.

Existing-Home Sales Heat Up in May, Inventory Levels Continue to Improve

October 28, 2014

WASHINGTON (June 23, 2014) – Existing-home sales rose strongly in May and inventory gains continued to help moderate price growth, according to the National Association of Realtors®. All four regions of the country experienced sales gains compared to a month earlier.

Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and... Read More

REALTOR® University Speakers Series: Long-Term Vacant Housing in the United States

October 28, 2014

In this video, Dr. Raven Molloy, Senior Economist for the Federal Reserve Board of Governors discusses Long-Term Vacant Housing in the United States, how it is calculated, and what it means for the health of housing supply and the housing market.

This video is part of the REALTOR® University Speaker Series.

See the presentation slides.

REALTOR® University Speaker Series: The Metropolitan Revolution

October 28, 2014

In this video, Brookings Institute Fellow Jennifer Bradley discusses the Metropolitan Revolution, what is necessary to create centers of innovation, and why Detroit is a surprising example of a Revolution in action.

The videos referenced in Ms. Bradley's talk can be found here:

Investors Remain Active in South Atlantic and Pacific Markets

October 28, 2014

Investors have been active participants in residential markets, especially after 2008. According to the April REALTORS® Confidence Index, 18 percent of respondents reported a sale to an investor. Taking a look over the past five years reveals that investors prefer specific regions of the country.

REALTORS® in the American Workforce, by State

October 28, 2014

The interactive map below allows you to look at the share of REALTOR® members by state and, by using the slider in the top left corner of the map, through time.

What stands out in the map, regardless of the year's data that you look at, is that there is geographic variation in the ratio of REALTOR® members to employed persons by state. If you take a look at this variation over time, you find that there is also some consistency in the shares by state.

Hawaii is a perennial leader, coming in with the highest share of REALTOR® members per employed persons in 19... Read More

Infographic: Home Buyers & Sellers: The Silent Generation

October 28, 2014

This infographic is about home buyers and sellers in the Silent Generation, born between 1925 and 1945. The information it contains comes from the 2014 Home Buyers & Sellers Generational Trends report.

Quiz: 2014 Member Profile Part 2

October 28, 2014

The questions and answers in this quiz were taken from the 2014 Member Profile. This annual survey conducted by the NATIONAL ASSOCIATION OF REALTORS® describes the business, transaction, and demographic characteristics of its members, and defines the property information needs of NAR membership. The Member Profile is available for download in our store. 

New Home Construction Needed to Match Job Creation, Improve Affordability in Majority of U.S.

October 28, 2014

WASHINGTON (June 10, 2014) – New home construction activity is currently insufficient in most of the U.S., and some states could face persistent housing shortages and affordability issues unless housing starts increase to match up with local job creation, according to new analysis by the National Association of Realtors®.

The labor market, which is a key to overall economic health, has recovered all of the eight million jobs lost since the recession. NAR measured whether new home construction has kept up with job creation to determine... Read More

Infographic: Home Buyers & Sellers: Older Boomers

October 28, 2014

This infographic is about home buyers and sellers in the Older Boomers age group, born between 1946 and 1954. The information it contains comes from the 2014 Home Buyers & Sellers Generational Trends report.

A Quick Review Of “Error Correction Models Of MSA Housing Supply, Elasticities: Implications For Price Recovery”

October 28, 2014

William C. Wheaton, Serguei Chervachidze and Gleb Nechayev have published the findings of their research in a paper titled “Error Correction Models of MSA Housing Supply, Elasticities: Implications for Price Recovery[1].” This is a summary of their findings in a sample of house price and stock data from 68 US metropolitan areas.

Quiz: 2014 Member Profile Part 1

October 28, 2014

The questions and answers in this quiz were taken from the 2014 Member Profile. This annual survey conducted by the NATIONAL ASSOCIATION OF REALTORS® describes the business, transaction, and demographic characteristics of its members, and defines the property information needs of NAR membership. The Member Profile is available for download in our store.