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First-time buyers accounted for 31 percent of buyers who closed a sale in August 2017, according to the August 2017 REALTORS® Confidence Index Survey.[1] The share of first-time buyers has been improving, although slowly, from less than 30 percent in 2013. Many potential first-time buyers are still on the sidelines, evidenced by the share of [...]
National Association of Realtors® Associate Counsel Jessica Edgerton this week offered a Facebook Live audience what she called “a 100 percent, surefire way that business owners can protect their computer from cybercrime.” Edgerton good-humoredly recommended closing the computer forever, burying it in the back yard and lighting it on fire. “That is how you secure [...]
In NAR’s first report on student loan debt in 2016, survey respondents were among a wide age range, from Millennials to Generation X to Baby Boomers and the Silent Generation. This year, the Student Loan Debt and Housing Report 2017 focuses exclusively on younger millennials (born 1990 to 1998) and older millennials (born 1980 to [...]
WASHINGTON (September 20, 2017) — Existing-home sales stumbled in August for the fourth time in five months as strained supply levels continue to subdue overall activity, according to the National Association of Realtors®. Sales gains in the Northeast and Midwest were outpaced by declines in the South and West. Total existing-home sales1, https://www.nar.realtor/topics/existing-home-sales, which are [...]
NAR released a summary of existing-home sales data showing that housing market activity this August slipped 1.7 percent from last month but modestly improved 0.2 percent from last year. August’s existing-home sales reached 5.35 million seasonally adjusted annual rate. The national median existing-home price for all housing types was $253,500 in August, up 5.6 percent [...]
Autumn is upon us, and the changing of the seasons is a great time to put together creative YPN events that will get members excited to be involved. Here are five real-life ideas from YPN groups around the country. 1. Not Your Usual Cocktail Party. Lakes Area REALTORS® Association YPN will host a wine and [...]
The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Commerce Department release on residential construction in August. “Following August’s decline in new home construction, there will no doubt be a further temporary setback to housing starts in upcoming months due to the impacts of Hurricanes Harvey and Irma on Texas and [...]
WASHINGTON (September 18, 2017) – Despite being in the prime years to buy their first home, an overwhelming majority of millennials with student debt currently do not own a home and believe this debt is to blame for what they typically expect to be a seven-year delay from buying. This is according to a new [...]
NAR Research’s new survey out today on millennial student debt offers up some sobering news that has both implications for the housing market and overall economy. Consider the key findings highlighted below. Millennials are typically carrying a student debt load ($41,200) that surpasses their annual income ($38,800) 83% of the millennial non-homeowners believe student debt has [...]
Smaller commercial properties in secondary markets are still attracting buyers at good prices, but demand for big-market mega-properties appears to be easing, NAR second-quarter data suggest. Large markets saw a 5 percent annual decline in sales, while smaller markets saw a sales boost of 4 percent. “Shrinking cap rates and the higher interest rate environment [...]