Instant Reaction: October Housing Starts

The following is NAR Chief Economist Lawrence Yun’s reaction to the U.S. Commerce Department report on residential construction in October: “The South region is quickly getting back on its feet with a big jump in new housing starts, after a pause in the prior month from the aftermath of the hurricanes. The Midwest and the Northeast […]

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The Anatomy of a First-time Buyer in 2017

Prospective first-time buyers in recent years have had to navigate several obstacles on their path to homeownership, including higher rents and home prices, tight inventory conditions and repaying student loan debt. These impediments are a big reason why first-timers were only 34 percent of all transactions in the National Association of Realtors®’ 2017 Profile of Home Buyers […]

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How to Keep Consumers Engaged

Leading power brokers shared their strategies for effectively reaching and engaging with consumers during a session titled, “New Strategies for Engaging Consumers,” during the 2017 REALTORS® Conference & Expo. REALTORS® and brokers from across the country listened as the panel discussed the importance of utilizing new technology and social media , automating as many processes as you can and […]

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NAR’s 2018 Housing and Economic Forecast

NAR Chief Economist Lawrence Yun presented his 2018 economic and housing forecast at the 2017 Realtors® Conference and Expo in Chicago. Yun expects existing-home sales to rise 3.7 percent next year. However, there are some caveats. Low supply could continue to suppress sales, especially to first-time buyers, and the passage of a tax bill that disincentives homeownership […]

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Instant Reaction: Q3 Homeownership Rate and S&P/Case-Shiller

The following is NAR Chief Economist Lawrence Yun’s reaction to reports on the U.S. homeownership rate in the third quarter and August home prices (S&P/Case-Shiller). “The American Dream of home ownership remains elusive, as the third quarter figure shows little change in the overall  rate. The reason is simple. There is just not enough supply of homes to […]

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RPR: Mortgage data turns table in buyer’s favor

Every Realtor® has run into it once or twice. Encounters with sellers who are less than forthcoming about their property’s shortcomings, including withholding facts about the outstanding mortgage. “Those kinds of surprises are detrimental to closing the deal,” says Andrew Balalovski, broker and owner of Balalovski Real Estate in Reynoldsburg, Ohio. “So before I ring a […]

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