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Tag Archives: Realtors

NAR Chief Economist Reveals 2014 Predictions

Speaking at the 2013 Realtors Conference & Expo, National Association of Realtors (NAR) chief economist Lawrence Yun predicted steadiness in existing-home sales over the next year as prices continue to ascend. Yun expects existing-home sales to rise by about 10 percent in 2013 to reach 5.13 million. The national median existing-home price is projected to end this year at about $197,000, 11 percent higher than in 2012.

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NAR Hires Managing Director of Data Analytics

Technology is ever-evolving, and it's transforming the real estate industry, generating volumes of information about how people approach and conduct real estate transactions. To help Realtors understand and interpret these trends, the National Association of Realtors (NAR) hired Todd Carpenter to fill a newly created position, managing director of data analytics.

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Aug New Home Sales Recover From July Plunge

Builders lowered prices and buyers responded in August, pushing new home sales up 7.9 percent to 421,000, reversing almost half of July’s 64,000 drop in sales, the Census Bureau and Department of Housing and Urban Development reported Wednesday. Economists surveyed by Bloomberg expected June sales to rise to 425,000 from July’s originally reported 394,000.

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August Existing Home Sales At Pre-Recession High

Existing home sales rose an unexpected 6.5 percent in to an annual sales rate of 5.48 million, the highest level since August 2007 ten months before the onset of the Great Recession -- the National Association of Realtors reported Thursday. Economists surveyed by Bloomberg expected existing home sales to drop to 5.

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Industry Vets Launch New Group to Advocate for America’s Homeowners

America's Homeowner Alliance announced this week that it is officially open for membership. Launched by a team of industry veterans led by Phil Bracken and guided by an advisory board made up of representatives from the housing industry, prominent consumer groups, and fair housing organizations, America's Homeowner Alliance is the first nationally organized group dedicated to protecting and promoting sustainable homeownership for all segments of America.

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Illinois Home Sales, Prices Surge in July

In July, sales of single-family homes and condominiums in Illinois reached 16,012--the highest level since August 2006, the Illinois Association of Realtors reported. The total represents a 28.5 percent increase from July 2012. The median price of a home in Illinois also shot up, increasing 14.2 percent year-over-year to $169,000, IAR reported.

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Single-Family Starts, Permits Drop In July

Led by multifamily activity, new housing permits and starts rose in July with new construction, continuing a shift from single-family homes. The Census Bureau and HUD reported Friday builders broke ground on new homes at a seasonally adjusted annual rate of 896,000 units, up 5.9 percent from June, and filed permits for construction of 943,000 new units, up 2.7 percent from June. Economists surveyed by Bloomberg had expected the pace of total starts to increase to 900,000 and total permits to increase to 918,000.

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Survey: Most California Investors Opting to Hold Rather than Flip

A survey from the California Association of Realtors (C.A.R.) revealed preferences and strategies of a typical California investor. For the most part, investors in the Golden State plan to keep their purchase for at least a year. According to the survey, 26 percent of investors who worked with Realtors over the last 12 months before April 2013 said they intend to flip the property within a year, while 66 percent plan to keep the property for more than a year as a rental.

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Pending Home Sales Index Falters in June

The National Association of Realtors' (NAR) Pending Home Sales Index (PHSI) slipped 0.4 percent in June to 110.9 in response to higher mortgage rates. Economists had expected the index to drop to 110.7, which would have been a 1.4 percent decline from May's originally reported 112.3. The May index was revised down to 111.3. With the revision, the May index, originally reported as the highest in six years, matched the level of April 2010.

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