Independence Day is rapidly approaching. Next week’s commemoration of country, home and family will see people enjoying their homes and neighborhoods as they celebrate. With the importance of that day in mind, NAR President Moe Veissi noted the following, comparing homeownership today to the time of our Founding Fathers.
For more on the history of homeownership in the U.S. as well as the full Jefferson quote, read the article here >
By Gay Cororaton
In the latest data from the Realtors® Confidence Index, 62 percent of respondents to the RCI reported constant prices (30 percent of respondents) or rising prices (32 percent of respondents) compared to a year ago on their most recent transaction.
In each Economic Update, the Research staff analyzes recently released economic indicators and addresses what these indicators mean for REALTORS® and their clients. Today’s update discusses jobless claims and GDP.
- For the third consecutive year REALTORS® reported that the most cited reason for limiting potential clients was the difficulty in obtaining mortgage financing, at thirty percent.
- There was a decline in the share of members who reported the most important factor limiting clients was the expectation that prices would fall further, from 26 percent in the 2011 survey to 18 percent in the 2012 survey.
- For more information about financing and other data, read the 2012 Member Profile >
THE MOST IMPORTANT FACTOR LIMITING POTENTIAL CLIENTS IN COMPLETING A TRANSACTION
Source: 2012 Member Profile
Homebuilding in the Sweltering Summer Heat
The weather heat map is all red today across the country. The best course is to stay indoors with the air conditioner on, and postpone lawn mowing for another day.
Yet, there are construction workers with hard hats and hammers pounding away outside. In reviewing home construction activity by each month, there is no discernible trend of holding back construction in the summer in very hot places like Phoenix or Dallas. Homebuilding is more impacted by market conditions of bubble and collapse, but not heat.
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