Category Archives: Economist Commentaries

October 2017 Pending Home Sales

NAR released a summary of pending home sales data showing that October’s pending home sales pace was up 3.5 percent last month and down slightly 0.6 percent from a year ago. Pending sales represent homes that have a signed contract to purchase on them but have yet to close. They tend to lead Existing…
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Profile: NAR Asian and Pacific Islander Real Estate Members

In the recently released Choosing a Career in Real Estate: A Perspective on Gender, Race, and Ethnicity report, the income, business activity, and demographic characteristics of NAR members are compared side by side. White and Caucasian members make up the majority of survey respondents at 74 percent and Asian and Pacific Islander members comprise…
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Lenders Optimistic on DTI Change

Fannie Mae recently raised the cap on its maximum debt-to-income (DTI) ratio to 50 percent. Will it help?  NAR Research queried lenders about this change in the Survey of Mortgage Originators for the 2nd quarter of 2017. Lenders were optimistic about the change, but some will maintain overlays to mitigate potential risks. In July,…
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Foreign Buyers Typically Spent 30 Percent More Than Domestic Buyers

Foreign buyers, typically purchased properties that are more expensive than properties purchased by domestic buyers, according to NAR’s recently released 2017 Profile of International Activity in U.S. Residential Real Estate.[1] Among foreign buyers who purchased property in April 2016–March 2017, the median price was $302,290, which is about 30 percent more than the median[2]…
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