Based on information from the May Realtors® Confidence Index, 66 percent of Existing Home Sales purchasers had a down-payment of less than 20 percent in their home purchase transaction.
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 Case-Shiller price index.
- The primary motivation to purchase a home varies between home buyers with an income below $175,000 and those with an income above $175,000.
- The primary reason among buyers with an income below $175,000 to purchase a home is the desire to own a home. A significant motivation for buyers with an income above $175,000 is the desire for a larger a home or a job-related relocation.
- The area purchased by households with an income below $175,000 and an income above $175,000 remained relatively the same. Over half of both income groups purchased their home in a suburb/subdivision. Eighteen percent of home buyers with an income below $175,000 purchased a home in an urban area, which was slightly higher than those with an income above $175,000.
- For more information on the Profile of Home Buyers and Sellers go to: http://realtors.org/research/research/home_buyers_sellers_maps
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 May 23-May 27, 2011, along with graphs that show the latest movement and overall trends.
- 35 percent of members have a certification. There was a large growth in the share of members who have a certification, which is attributed to the growth in members who have a Short Sale and Foreclosure certification. In 2011, 21 percent of members held this certification, up from 12 percent in 2010.
- 23 percent of members are a member of an NAR affiliate. The most common affiliate membership is the Council of Residential Specialists followed by Real Estate Buyers’ Agent Council.
- 36 percent of members have a designation in real estate. The most common designation is the Graduate REALTOR Institute at 21 percent, followed by Certified Residential Specialist at 10 percent.
- For more information, please visit the 2011 Member Profile page on realtor.org.
- Based on information from the May Realtors® Confidence Index, Realtor® confidence in the outlook for real estate markets dropped slightly in April but was still well above the lows experienced in 2010. The lowest readings are in Condos and Townhouses.
- The confidence level for single family homes is approaching 40, with a reading of 50 representing moderately strong confidence.
- Employment trends have major impacts on home sales, and the labor markets have been in a slow but positive recovery in recent months. Accordingly, we would expect to see some improvement in forthcoming months.
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 jobless claims.
- 62 percent of members have a website.
- The typical member that has a website has maintained it for six years.
- The most popular information on members’ websites is their own property listings, information about home buying and selling, mortgage or financial calculators, and a link to their firm’s website.
- Brokers and managers who sell are most likely to have websites. Brokers who don’t sell and appraisers are least likely to have websites.
- For more information, visit the 2011 Member Profile page on realtor.org.
Energy efficiency is an important feature for home buyers. NAR’s 2010 Profile of Home Buyers and Sellers includes some interesting data about buyers’ preferences for energy efficient features in a home. Study findings show that:
- Buyers in the East South Central and West South Central tended to place the highest premium on heating and cooling costs with 47.1 percent and 47.5 percent of buyers, respectively, saying that these costs were a very important feature.
- Environmental efficiency has become an increasingly important factor in home buying decisions due to rising energy costs. Heating and cooling costs were at least “somewhat” important to 88 percent of all buyers.
- Both first-time and repeat buyers recognize the importance of heating cooling costs with 89.1 percent and 86.8 percent, respectively, saying these costs were very or somewhat important.
- For more information on the Profile of Home Buyers and Sellers go to: http://realtors.org/research/research/home_buyers_sellers_maps
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.
