What NAR Studies Tell Us About the Real Estate Market

We help people begin a career in real estate and assist throughout their career from prelicense, continuing education, post license, reciprocal licensing, broker courses as licensees continue their professional development as well as software training. Feel free to call us at 1-800-481-3116 or email us at DPalmer@CareerAcademyOfRealEstate.com
Today we wanted to share some highlights from a report done by the National Association of Realtors. We've always thought the most important part about real estate is knowing your buyers and sellers very well, and this report goes into detail about their behaviors and activities.

• The study revealed that 67% of sales were for primary homes, with 13% of sales going to vacation homes and 20% of sales for real estate investment. 

• The survey also revealed that while interest rates are going down, the average household income is increasing. This is excellent news for the real estate market in years to come.

• Ownership rates for people under 40 years of age have been dropping, and continues to do so. It's decreased from 50% to 33%, but we expect that this will only create a lot of pent-up demand in years to come because rent prices are often higher than a monthly mortgage. 

• Furthermore, 73% of buyers think getting a mortgage would be impossible under current conditions. We see this as an opportunity for agents to educate people about how truly easy it is to qualify for a home loan.

• Multi-generational households seem to be forming more frequently as well, with children moving and grandparents as well. 

Today we wanted to share some highlights from a report done by the National Association of Realtors. We've always thought the most important part about real estate is knowing your buyers and sellers very well, and this report goes into detail about their behaviors and activities.

Quite frankly, there is too much information in this report to discuss in one video, so we invite you to join us again in the future where we will divulge even more information to you. 

In the meantime, click here to read the entire report. 

Thanks for tuning in again. Please contact us if you have any questions for us in regards to this report. We would be pleased to discuss it with you!

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How Does Affordability Affect Your Ability to Prospect?

We help people begin a career in real estate and assist throughout their career from prelicense, continuing education, post license, reciprocal licensing, broker courses as licensees continue their professional development as well as software training. Feel free to call us at 1-800-481-3116 or email us at DPalmer@CareerAcademyOfRealEstate.com
Hello, and welcome back to our blog! Today, we continue our discussion on the many positive trends we've seen in real estate lately. 

Recently, Fannie Mae and Freddie Mac cut their minimum down payment to 3%! That's in line with what FHA has been charging, which goes to show how much easier it is for homeowners to obtain financing today. If you're thinking about getting into real estate, this means there are more qualified prospects than ever! 

According to MSNBC, around 30% of housing units are rented. That's approximately 41 million people who are currently renting, which is a massive pool of prospects if you're an agent. For instance, around 18 million of those renters want to buy a home, but don't realize this lower down payment will help them afford one. 

The time has never been better to get into the real estate business. 

Recently, 30-year fixed rate mortgages dropped from 3.77% to 3.6%. Additionally, rates for adjusted mortgages have dropped to 3.04%! Conditions for affordable financing simply can't get much better! It's time to get off the fence if you've been considering a career in real estate - there are a whole lot of prospects out there who need your help! 

If you have any questions about these fantastic conditions, or would like help getting into the industry, give us a call or shoot us an email! We would love to hear from you! 

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