Tag Archives: National Association of Realtors

Real Estate Sales Season Arrives Early in Chicago*

Despite the continued weakness in the U.S. housing market as indicated by March numbers from indicators such as NAR’s existing homes sales, Census’s new housing starts and new home sales, signs of a housing pick-up in the Chicago metro area are emerging earlier this year.

Rising Inventory and Owners’ Asking Prices: First, as early as February, Chicago’s single-family home listings were up 8.0% from the previous month, accompanied by… Continue reading

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Being Thankful, Even For Small Blessings…

It seems fitting on this Thanksgiving week that there is at least some positive news being reported in the media. On Tuesday, CBS MoneyWatch led with a story by Ilyce Glink titled: “Home sales up, but housing prices continue to fall nationwide.” Though acknowledging that the sales numbers, according to a survey by the National Association of Realtors®, only increased by 1.4%, and admitting that this increase would amount… Continue reading

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Low Appraisal Valuation: Statistical Aberrations or Roadblock to Housing Recovery?

Of the many likely sources contributing to ongoing housing market weakness (e.g., the overhang of distressed and vacant homes; tight credit; poor job prospects; negative income shocks to many would-be first-time homebuyers; disappearing equity on the part of potential trade-up buyers), appraisal valuation –- a key underwriting requirement for screening the risk of mortgage loans in the event of borrower default –- has come under criticism for its alleged role… Continue reading

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Not All Price Indexes Are Created Equal

What’s the difference between the FHFA House Price Index, the popular Case-Shiller Index, the National Association of Realtors (NAR) Index, and home price indexes provided by CoreLogic and FNC itself?

Similar to the Consumer Price Index – a proxy for what people are paying for products off the shelf – mortgage industry professionals use the residential price indices mentioned above to estimate the value of their products: home… Continue reading

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Housing in Pre-pre-pre Recovery?

The National Association of Realtors led the housing news today with its release of existing home sales data for March. For the media, the difference wasn’t in numbers, but in attitude. Here’s how it was reported:

WALL STREET JOURNAL, cautiously: “Housing Starts Remain Subdued,” and they report: “Home building rebounded a bit in March from a winter slump, but construction remains near historically low levels heading into the crucial… Continue reading

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