NVAR Spring Forecast - TJ Doyle

T.J. Doyle Marketing and Communications Manager, Research Division National Association of REALTORS® March 19, 2009

• NAR’s Research Division is located in Washington DC, and is comprised of 17 people. • More than half are staff economists (including NAR’s Chief Economist Lawrence Yun). • The Research Division produces new information on housing and the economy every day.

• Every month, NAR Research produces the Existing Home Sales report as well as the Pending Home Sales Index. The EHS numbers are often reported widely by the media. • Everything Research does for you can be found here: www.realtor.org/research

8 page mailed survey to roughly 4,000 Northern Virginia consumers in August 2008 Excellent survey return rate Those surveyed bought homes between July 2007 and June 2008 Source: 2008 Profile of Home Buyers and Sellers

Source: 2008 Profile of Home Buyers and Sellers

U.S. Source: 2008 Profile of Home Buyers and Sellers

U.S. NEW AND PREVIOUSLY OWNED HOMES PURCHASED (Percentage Distribution) 100% 79% 79% 79% 78% 77% 77% 80% 72% 60% 40% 28% 23% 23% 22% 21% 21% 21% 20% 0% 2001 2003 2004 2005 2006 2007 2008 New Previously Owned Source: 2008 Profile of Home Buyers and Sellers

IMPORTANCE OF COMMUTING COSTS Not (Percentage Distribution) U.S. Important , 20% Very Important , 41% Somewh at Important , 39% Source: 2008 Profile of Home Buyers and Sellers

USE OF INTERNET TO SEARCH FOR HOMES U.S. 100% 80% 18% 18% 21% 22% 24% 60% 29% 40% 69% 66% 59% 57% 53% 42% 20% 0% 2003 2004 2005 2005 2007 2008 Frequently Occasionally Source: 2008 Profile of Home Buyers and Sellers

T.J. Doyle Marketing and Communications Manager, Research Division National Association of REALTORS® March 19, 2009

NVAR Spring Forecast - TJ Doyle

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