NAR Research has produced a total of 3,147 Relocation Reports for U.S. counties. The Relocation Report for each county presents information for that county on county‐to‐county migration flows within the United States, the average incomes of households moving between the specific county and other counties, demographic summaries of homeownership rates, and types of home mortgages (e.g., Conventional, FHA, VA, and FSA/RHS). The most recently available data are for 2010.
Dayton is the County Seat of Montgomery County. The area is known for manufacturing, which has been in decline, and research and development in aeronautical engineering, related to nearby Wright-Patterson Air Force Base. The Dayton area is noted for defense, aerospace, and healthcare.
Here is the latest 2012 Economic and Housing Outlook from NAR Chief Economist Lawrence Yun. Though today’s downward revision to prior GDP figures were not incorporated, the outlook remains essentially unchanged. The full 15-slide PowerPoint looks at economic indicators such as existing home sales, new home sales, housing starts, GDP, payroll jobs and more. The Summary Forecast Table is also pasted below.
Link to the full PDF can be found here.
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 growth.
Approximately 31 percent of REALTORS® who responded to the latest REALTORS® Confidence Index survey reported making a sale to first-time home buyers. Normally first-time buyers are in the neighborhood of 40 percent of total residential sales, according to NAR’s Profile of Home Buyers and Sellers. The proportion of first-time home buyers hit a peak of approximately 50 percent in 2009. Most first-time buyers obtain a mortgage: About 8.7 percent of REALTORS® who made a first-time home buyer sale reported a cash sale (compared to 10.8 percent in July).
The decrease in first-time buyers from the typical 40 percent share in part reflects the difficulty of securing mortgage financing, delays with distressed sales, and purchases of lower priced properties by investors. REALTORS® have noted that that investors offering all-cash sales to sellers have crowded out first-time buyers in some cases, particularly in the case of distressed properties. Unsuccessful first-time buyers typically continue their property search, sometimes making a number of bids before securing a property.
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 new home sales.
