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The Real Reason People Moved Last Year |
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According to the U.S. Census Bureau, the No. 1 reason 36 million people (who were one year or older) moved from 2012 to 2013 was because of the desire for a new home. Forty-eight percent of those who moved last year cited housing as the main reason that contributed to their decision to move, followed by 30.3 percent who cited family, 19.4 percent who said employment and 2.3 percent who said "other". |
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Commercial Members -- NAR Needs Your Response on a Technology Survey |
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NAR is looking for the best ways to help its commercial members take their business to the next level. Complete this brief REach Technology Uses and Needs Survey before June 15th, and you could win a $100 VISA gift card. NAR's REach technology accelerator program researches hundreds of companies each year to find the top technology tools that could benefit REALTORS.
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Record Number of Cash Purchases |
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A record number of home owners are using the increased equity in their current homes to buy their next homes in cash and avoid the mortgage process altogether, according to Bloomberg Businessweek. About 29 percent of non-investment buyers used cash to fund their housing transactions in the first quarter of this year -- the highest level on record. Baby boomers make up a large bulk of these all-cash deals, says Lawrence Yun, chief economist for the National Association of REALTORS. Baby boomers have more equity than previous generations because they may have owned a home during a 30-year "housing bull market". What's more, about 16.3 million Americans older than 60 owned their homes outright in 2012. Baby boomers are expected to remain a strong presence in the housing market much longer than previous generations, too. |
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