[A guest blog post from NAR's Manager of the Housing Opportunity Program, Wendy Penn]
NAR recently released the 2013 National Housing Pulse Survey. The findings show that a strong majority (78%) of renters say that homeownership is a priority for them in the future, with 51% calling it one of their highest priorities.
That is an impressive statistic, but it is not surprising. There is a reason homeownership is called the American Dream. Home is where we make memories, build our futures, and feel comfortable and secure. It’s no wonder that most renters want to own a home. So where are these renters and how can REALTORS® help them along the path toward homeownership?
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 second update discusses the Case-Shiller home price index.
- Case-Shiller May data, which is based on information from closings in March, April, and May, showed that home prices rose at their fastest rate since March 2006. The 10-city index was up by 11.8 percent from a year ago while the 20-city index showed gains of 12.2 percent. These gains are slightly higher than those measured by the FHFA last week and roughly in line with NAR and CoreLogic data for similar time periods. (all pictured in the chart above). Continue reading »
The second quarter marked a noticeable improvement in the recovery trajectory of commercial REALTOR® markets. Based on the results of the July Commercial Real Estate Market Survey, commercial practitioners reported solid leasing activity and a double digit rise in sales volume. Nationally, 60 percent of REALTORS® reported completing a sales transaction during the quarter.