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Local data is critical to understanding local markets, but real time information is best. Each Survey of REALTOR® Sentiment/ Regional Vice-Presidential Report (RVPR) is a collection of results from NAR's most recent REALTOR® Confidence Index along with commentary from NAR's Regional Vice President for that region. These RVPRs—which reflect data available through July 2011—provide insights into the buzz on the street for each of the regional housing markets.
Region 1
According to REALTORS® surveyed in Region 1 (Illinois, Indiana, and Wisconsin) the share of distressed sales, foreclosures and short sales, as a share of total homes sold fell sharply between the 1st and 2nd quarters, nearly reaching the same level as the spring of 2010.
Region 2
The price discount on foreclosed properties in Region 2 (New Jersey, New York, and Pennsylvania) fell sharply from 29% to 20% between the 1st and 2nd quarters and is below the 29% level from the same time in 2010. The discount on short sales also fell over the first two quarters of 2011, but is up relative to a year ago according to REALTORS® surveyed.
To view all of the July 2011 RVP Reports, click here.
Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.