Realtors® Advocate in Washington, DC
The National Association of Realtors® held its annual Legislative Meetings to focus on federal legislative priority issues this week.
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Homebuyers and Sellers: What Do They Need?
PAR CEO Mike McGee recently spoke with Dr. Jessica Lautz, vice president of demographics and behavioral insights at NAR, about the annual Profile of Homebuyers and Sellers report and trends NAR is seeing in the market.
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NAR Survey Shows Swift Rebound of Activity
“The residential market has seen a swift rebound of activity as numerous states have begun to ease mandatory stay-at-home orders,” said Lawrence Yun, NAR’s chief economist. “Many potential buyers and homesellers were kept at bay in the initial stages of the coronavirus outbreak, but Realtors® nationwide were able to quickly pivot, embracing technology and business practices to ensure the homebuying process continued in a safe manner.”
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Energy-Efficient Homes Attractive to Buyers in Northeast
Energy efficiency was found to be very or somewhat valuable in marketing home listings by 70% of the member respondents, according to the 2020 Realtors® and Sustainability Report.
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Mortgage Forbearance May Be Option for Struggling Homeowners
Many homeowners may be facing the challenge of making their next mortgage payment while being unemployed during the COVID-19 pandemic.
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Majority of Sellers Haven’t Reduced Listing Prices During Pandemic
“In those states with a strict lockdown, such as in Pennsylvania, there are additional postponements of consumer decisions as many aren’t completely comfortable making a major expenditure without a physical visit,” said NAR Chief Economist Lawrence Yun.
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Pent-Up Demand for Homes Expected Following Pandemic
“Coming out of this, I believe we’re going to see a lot of pent-up demand. People will have spent a lot of time in their homes, thinking ‘how can I remodel?’ or ‘I really need to move to find another home that works better for my family’,” according to Dr. Jessica Lautz, vice president of Demographics and Behavioral Insights at the National Association of Realtors®.
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NAR Offers Products at Reduced and No Cost
NAR is relaunching the Right Tools, Right Now program, which was originally offered during the financial crisis, as a result of the COVID-19 pandemic.
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Existing home sales see boost, affordability still an issue
Median sales price saw an increase, reaching $280,000, an increase of 4.3% year-to-year from $269,300, the 89th consecutive month of year-to-year price gains.
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Joint coalition files amicus brief in support of association health plans
As a member of the Coalition to Protect and Promote Association Health Plans, NAR joined and filed an amicus brief in December in support of the U.S. Department of Labor’s regulation last year, which would expand access to association health plans.
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