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Friday, November 13, 2009

Research Update -- November 2009

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

Sent from Boca Raton, FL, United States

---------- Forwarded message ----------
From: National Association of REALTORS(R) <NAR@newsletters.realtor.org>
Date: Fri, Nov 13, 2009 at 10:03 AM
Subject: Research Update -- November 2009
To: john@johnjrose.com


NAR's Research Update logo
Existing Home Sales
Pending Home Sales Index
Real Estate
Insights
National Center for
Real Estate Research
In This Issue:   Friday, November 13, 2009


    LATEST DEVELOPMENTS

    Pending Home Sales Rise for Record Eight Straight Months
    Pending home sales rose again, marking eight consecutive monthly gains – the longest streak since measurement began in 2001, according to the National Association of Realtors®. The Pending Home Sales Index rose 6.1 percent to 110.1 from a reading of 103.8 in August, and is 21.2 percent higher than September 2008 when it stood at 90.9. The gain from a year ago is the largest annual increase on record, and the index is at the highest level since December 2006 when it was 112.8. Lawrence Yun, NAR chief economist, said the momentum is understandable. “What we’re witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month,” he said. “Home values will stabilize sooner rather than over-correcting. That, in turn, will mean wealth stabilization for the vast number of middle-class families and lay the foundation for a durable economic recovery.”
    Read the release >
    View the video >
    View Pending Home Sales Index >

    Follow the 2009 Realtors®’ Conference and Expo Live!
    Even if you can’t make it to San Diego this year, you can follow along with updates and live video feeds for many of the major events. Conference is working hard to make this possible on their Conference Live page. You can follow the forums, announcements, and events on that page, or you can get updates sent directly to your phone! We hope you’ll tune in from wherever you are, and that we’ll see you in person next year.
    Follow the Conference live >
    Get updates sent to your phone >

    The First Time Home Buyer Tax Credit: Extended into 2010
    Research, along with all of NAR, had some good news this month about the tax credit. Despite consistent opposition to the home buyer tax credit from academia, newspaper editorials, and think tanks, Congress overwhelmingly passed the bill. To find out more about what the extension means for you and your clients, follow the links below.
    Read a summary >
    Go to the Tax Credit FAQ page >


    NEW RESEARCH RESOURCES FOR YOU

    Economists’ Podcast for November: The Extended Tax Credit and Outlook for 2010
    On the second Tuesday of every month, NAR's Chief Economist, Lawrence Yun, will discuss the current factors, issues, and data affecting REALTORS® and their businesses. Get a wealth of information straight from the source with a quick listen – each podcast is around 5 minutes long and provides a timely market update. This month, Dr. Yun talks about why the extended home buyer tax credit is a victory, and gives his outlook for 2010.
    Listen to the November Podcast>

    Research Webinar for November: Maximizing the Home Buyer and Seller Profile
    NAR's Survey experts will discuss the newly released 2009 Profile of Home Buyers and Sellers and how you can use the wealth of information in this user-friendly report to better your business on November 30th at 2pm EST.
    Register now >

    Research Spotlight
    Each month, NAR Research will be spotlighting those who go above and beyond in their use of Research data, surveys, and other products. These individuals or associations are featured for their dedication to market data and in their efforts to get the best and most timely housing information to Realtors®, their peers, and consumers. If you think you should be in the spotlight, or know an individual or association that you feel should be spotlighted, please send an e-mail to us at data@realtors.org.
    October Research Spotlight: Carol Murphy >

    Research is Now on Facebook, Active Rain, RealTown, Twitter and LinkedIn!
    The National Association of Realtors® has been surveying members to find out about their use of technology like websites and blogs for several years. Now, Research, too, has its very own Facebook group, Active Rain and RealTown presences, as well as a presence on Twitter and LinkedIn. Research's social media pages are not only a place for our members to receive insight into our latest surveys, commentaries and reports, but also an avenue for you to make your thoughts known to us and your fellow Realtors®. There may be certain special trends in the marketplace that Research may be unaware of - such as a significant rise in foot traffic at open houses or continuing long delays in getting short sales to close. We'd like this to be an open forum for discussion rather than a one-sided monologue.
    Find Research on Facebook >
    Find Research on Active Rain >
    Find Research on RealTown >
    Find Research on Twitter >
    Find Research on LinkedIn >

    Read daily commentaries by NAR economists on the latest developments in the real estate market.
    Read more >





    Report compiled by NAR's Research Division.

    Questions about this report? Contact Research at mdunn@realtors.org.

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