Real Estate Insights -- November 2009

Thanks,

JOHN ROSE
REALTY ASSOCIATES
561-414-0012 PHONE
561-210-7111 FAX  
john@johnjrose.com
www.johnjrose.com

---------- Forwarded message ----------
From: National Association of REALTORS <NAR@newsletters.realtor.org>
Date: Wed, Nov 18, 2009 at 12:54 PM
Subject: Real Estate Insights -- November 2009
To: john@johnjrose.com

		November 2009 Download PDF version (815 KB) In This Issue:
Extending the Good News for Home Buyers The first-time home buyer tax credit, originally scheduled to expire on November 30th, has been extended – and expanded. That is indeed good news for for first-time buyers, as well as repeat buyers, many of whom will be able to take advantage of the program. In his commentary this month, NAR Chief Economist Lawrence Yun tells us that the tax credit, continuing low mortgage rates and high affordability will help lift home sales activity into next year. Read more > The Great Profile: 2009 Edition The new 2009 NAR Profile of Home Buyers and Sellers was just released, and shows that first-time buyers accounted for 47 percent of home purchasers between July of 2008 and June of 2009. That’s the largest share of first-time buyers in more than 18 years. In addition, existing-homes were more popular among buyers than reported in last year’s profile. Research Economist Jessica Lautz takes a closer look at the numbers in this month’s Market Intelligence article. Read more > New Quarterly Statistics on State Home Sales and Metro Area Prices The latest NAR quarterly survey of metropolitan area home prices shows that 45 states and the District of Columbia experienced increased sales from the 2nd quarter of 2009 to the 3rd quarter of the year, and 28 states and the District saw double-digit gains in resales. And while most markets experienced declines in median home prices from the third quarter of 2008 to the third quarter of 2009, some markets posted significant gains Read more > Get Insights Without Looking Have Real Estate INSIGHTS delivered to your e-mail box as soon as new content is posted each month. It's free to members as well as non-members! Subscribe in the "My Account" section of Realtor.org. Subscribe now> Real Estate Insights Lawrence Yun, NAR Chief Economist Paul Bishop, Vice President, NAR Research Jed Smith, Managing Director, Quantitative Research Arun Barman, Research Economist Wannasiri Chompoopet, Manager of Housing Statistics Keunwon Chung, Data Research Analyst Stephanie Davis, Office Manager Thomas J. Doyle, Research Marketing Manager Meredith Dunn, Communications Representative Ken Fears, Manager of Regional Economics Danielle Hale, Research Economist Michael Hyman, Research Assistant Selma Lewis, Research Economist George Ratiu, Research Economist Gregg Stratton, Research Economist Sophia Stuart, Marketing Associate Caroline Van Hollen, Senior Research Coordinator Copyright © 2009 NATIONAL ASSOCIATION OF REALTORS®. Reproduction or reprinting in any form is prohibited without written permission. Editorial questions and requests to reprint articles should be directed to Meredith Dunn via e-mail at insights@realtors.org. Unsubscribe from this e-mail newsletter. Manage E-mail Preferences: To change your e-mail address, or manage your subscriptions, please log in to your REALTOR.org account. Your REALTOR.org username is JROSEGSLIMO. Customer Support Visit our customer support page for help with your account. Privacy Policy Please do not reply to this e-mail. This mailbox is for distribution only. NATIONAL ASSOCIATION OF REALTORS® 500 New Jersey, NW Washington, DC 20001 800/874-6500 www.REALTOR.org

Monitor Check out this snapshot of monthly housing indicators.

Economic Commentary Despite the risks of rising mortgage rates and rising unemployment, the housing outlook has significantly improved. As the fear of falling home values disappears, that one key negative factor that has held back home sales will no longer be in play.

The Forecast For the latest economic forecast insights and analysis, view our Economists' Commentary page.

In Focus Low interest rates, the first-time buyer tax credit and the beginnings of an economic recovery all led to rising home sales in most states in the third quarter of 2009.

Market Intelligence One of the most important changes in this year’s survey was shaped by record home affordability and the availability of the first-time home buyer tax credit—the share of first-time buyers.

Existing Home Sales Existing-home sales posted a strong rebound in September, registering a seasonally adjusted annual rate of 5.57 million units for the month. Resales rose 9.4 percent from October and were up 9.2 percent from their level in September of 2008. Existing-home sales activity was at its highest level in over two years.

Archives See previous issues.

Get Your Copy of the 2009 Profile of Home Buyers and Sellers Get more information from the new 2009 Profile of Home Buyers and Sellers. NAR members can download a copy of the full study from our web site FREE. Download now >

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