Every week the Research staff analyzes key data releases and explain what they mean for you and your business. In this update, we give the highlights of the most important data releases for the week of April 25-April 29, 2011, along with graphs that show the latest movement and overall trends.
The U.S. dollar has been weakening for the past two years and the depreciation could continue for the remainder of the year. The dollar is weaker not only against the major foreign currencies of the Euro, Pound, and the Yen, but also against the Russian Ruble, Polish Zloty, South Korean Won, Thai Baht, South African Rand, Brazilian Real, and Mexican Peso.
Appraisal issues continue to be a problem according to the latest Realtors® Confidence Index Survey. Respondents reported delays, lower sales prices, or cancellations in 35 percent of recent transactions. 
Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update highlights the GDP, Pending Home Sales, and jobless claims.
- Respondents to the recent REALTORS® Confidence Index were asked about their most recent home listing. A foreclosure listing was reported by 9 percent and a short sale listing by 18 percent.
- Given that foreclosures are currently at the 27 percent level for Existing Home Sales, it appears that the inventory of foreclosures may be in a drawdown mode.
The homeownership rate declined a notch in the latest data to 66.5 percent in the first quarter of 2011, down from 66.6 percent in the prior quarter. It marks the broad continuing decline since the peak bubble year in 2005, when 69 percent of households were homeowners. The current homeownership rate matches figures from 1998.
Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update highlights mortgage purchase applications and durable goods orders.
- First time home buyers have recently declined to 34 percent of the total market of Existing Home Sales, down from a normal 40 percent, according to the most recent REALTORS® Confidence Index.
- REALTORS® have reported a number of instances of investors outbidding prospective first-time buyers for discounted foreclosures by offering cash and accelerated closings.
- In some real estate markets distressed property is reported as being absorbed relatively quickly—although at a significant discount–by the Existing Home Sales markets.
Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update highlights mortgage rates and the latest inflation expectations.
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- A number of articles have recently extolled the financial advantages of renting vs. owning a home. Renters are, however, apparently finding that the cost of renting is increasing.
- Forty-six percent of respondents to the recent REALTORS® Confidence Index reported rental rates for apartments and homes to be increasing compared to a year ago, while another 16 percent of respondents reported rental rates as constant.
- Declining rental rates were reported by 18 percent of respondents.
