WASHINGTON (May 21, 2015) — Despite properties typically selling faster than at any time since July 2013, existing–home sales slowed in April but remained above an annual sales pace of five million for the second straight month, according to the National Association of Realtors®. All major regions except for the Midwest experienced sales declines in April.
- North Dakota: Oil and gas extraction have transformed North Dakota. During the 1990s, the population declined as young Dakotans left for college and out-of-state job opportunities. Subsequently, the development of hydraulic fracturing, or fracking, shifted the state’s economic fortunes. In 2014, North Dakota enjoyed the largest growth in gross domestic product (GDP) and the lowest unemployment rate of any state in the nation, although the economic tides are turning once again.
- New Mexico: New Mexico brings... Read More
These slides are from the Economic and Commercial Real Estate Outlook presentation given by Sam Chandan during the Commercial Economic Issues & Trends Forum at the REALTORS® Legislative Meetings & Trade Expo in Washington, DC, on May 14, 2015.
Dr. Chandan is Adjunct Associate Professor of Real Estate at the University of Pennsylvania Wharton.
These slides are from the Economic and Commercial Real Estate Outlook presentation given by Lawrence Yun during the Commercial Economic Issues & Trends Forum at the REALTORS® Legislative Meetings & Trade Expo in Washington, DC, on May 14, 2015.
WASHINGTON (May 14, 2015) – While the commercial market still faces its share of challenges, Realtors® specializing in commercial real estate expressed confidence in the marked improvement seen in the market over the last year at a commercial economic issues and trends forum at the REALTORS® Legislative Meetings & Trade Expo.
National Association of Realtors® Chief Economist Lawrence Yun led a panel discussion about the forces shaping commercial real estate markets. The panelists agreed that the market has... Read More
These slides are from the Growth Potential and Headwinds for New Home Construction presentation given by Robert Dietz during the Residential Economic Issues & Trends Forum at the REALTORS® Legislative Meetings & Trade Expo in Washington, DC, on May 14, 2015.
Dr. Dietz is the Vice President of Tax and Market Analysis for the National Association of Home Builders (NAHB).
WASHINGTON (May 14, 2015) – Existing-home sales are expected to finish the year at their highest pace since 2006, but accelerating price growth and rising mortgage rates have the potential to slow sales, according to an economic forecast forum here at the 2015 Realtors® Legislative Meetings & Trade Expo.
These slides are from the Economic and Housing Market Outlook presentation given by Lawrence Yun during the Residential Economic Issues & Trends Forum at the REALTORS® Legislative Meetings & Trade Expo in Washington, DC, on May 14, 2015.
WASHINGTON (May 11, 2015)—Stronger demand amidst lagging inventory levels caused home prices to accelerate in many metro areas during the first quarter of 2015, and the number of areas experiencing double-digit price appreciation doubled compared to last quarter, according to the latest quarterly report by the National Association of Realtors®.
The median existing single-family home price increased in 85 percent of measured markets, with... Read More
The Bureau of Labor Statistics has released their payroll employment numbers for April 2015. Here is a quick look at what they could mean for the housing market.
- Commercial vacancy rates declined for the core property types. Availability is expected to continue contracting for office, industrial and retail properties in 2015 and beyond.
- Vacancies for apartments are estimated to rise, due to gains in supply.
- Commercial rents have risen across the board, and are projected to advance this year to the tune of 2.5 percent to 3.7 percent.
- Lending conditions in REALTOR® markets notched another year of sustainable recovery.
Every month SentriLock, LLC. provides NAR Research with data on the number of properties shown by a REALTOR®. Lockboxes made by SentriLock, LLC. are used in roughly a third of home showings across the nation. Foot traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future. This infographic shows the latest index data along with trends and changes.
Rising home prices in many metro areas have helped homeowners build housing wealth in recent years, but the continued decline in homeownership means the gains are going to fewer people and likely leading to worsening inequality in the U.S.
These data visualizations show the change in homeownership rate for the top 100 metro areas.
WASHINGTON (May 7, 2015) – Rising home prices in many metro areas have helped homeowners build housing wealth in recent years, but the continued decline in homeownership means the gains are going to fewer people and likely leading to worsening inequality in the U.S., according to new research from the National Association of Realtors®.
NAR reviewed data on homeownership rates1, changes in single-family median home prices and a measure of inequality (the Gini Index) between 2010 and 2013 to estimate wealth and income... Read More
The REALTORS® Legislative Meetings & Trade Expo, held in Washington, D.C. every May, continue a tradition that goes back throughout NAR’s 100+ year history. Attendees come from around the country and around the world to focus on legislative issues affecting real estate.
Learn more about the REALTORS® Legislative Meetings & Trade Expo.
In this video, NAR Chief Economist Lawrence Yun talks about the rise in pending home sales, median home prices, regional and local market variations, release of pent-up demand, and other home sales trends.
The visualization below shows the financial characteristics of households at zip code, metro area and state level (2009 - 2013). The charts below display: Median Home Price, Median Household Income, Median Monthly Housing Cost (with mortgage/without mortgage), Median Real Estate Taxes (with mortgage/without mortgage) and Median Gross Rent.
Read more about financial characteristics of housing at the local level.
WASHINGTON (April 29, 2015) — Pending home sales in March continued their recent momentum, rising for the third straight month and remaining at their highest level since June 2013, according to the National Association of Realtors®.
The Pending Home Sales Index,* a forward-looking indicator based on contract signings, climbed 1.1 percent to 108.6 in March from an upward revision of 107.4 in February and is now 11.1 percent above March 2014 (97.7). The index has now... Read More
One broad trend across the country has been a consistent and steady decline in shadow inventory. There is already a shortage of visible inventory. So a shorter shadow – those properties with serious mortgage delinquency or in some stage of the foreclosure process – will not help relieve the inventory situation.
With new home construction still sluggish the housing inventory shortage could last longer. Home price increases in many parts of the country are nearly assured as a result. The price gains in some cases will be too fast and not good for the overall health of the... Read More