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REALTOR®: NAR Begins Public Awareness Campaign on Real Facts about Real Estate

Monday, January 21, 2008

The National Association of REALTORS® begins a campaign this week to reach out to consumers with the facts about homeownership and the value of real estate as a long-term investment. Individuals and families who are uncertain about their home buying plans can learn more about the options available to them and the long-term benefits of owning a home through a new advertising campaign that will provide current, relevant housing data to help them make informed decisions about buying a home.

Over the past 30 years, the median price of existing homes has increased an average of more than 6 percent every year, and home values nearly double every 10 years, according to historical data from NAR’s existing-home sales series. A Federal Reserve study has shown that the average homeowner's net worth is 46 times the net worth of the average renter. Despite this and other research, some potential home buyers are being kept on the sidelines as they react to national media reports about the housing market.

According to NAR’s most recent forecast, existing-home sales are likely to total 5.66 million in 2007, the fifth highest on record, rising to 5.70 million in 2008 and 5.91 million in 2009. Existing-home prices are likely to be down 1.9 percent to a median of $217,600 for all of 2007 which is good news for buyers; prices are expected to hold steady in 2008, and then rise 3.1 percent in 2009 to $224,400.

“Nobody buys a home in the national real estate market,” said NAR President Richard Gaylord. “All real estate markets are local, and buyers and sellers who are thinking about making a move should consult with a Realtor in their local market to learn about conditions specific to the area. It’s also advisable to look beyond the immediate horizon – real estate has proven itself to be a good long-term investment and a safe, secure way to build long-term wealth.”

The campaign includes a new Web site, www.HousingMarketFacts.com, which provides more information about the benefits and value of owning a home, identifies current public policy issues of importance to consumers in the real estate transaction and allows visitors to link directly to www.REALTOR.com to find a Realtor.

For more than a decade, NAR’s Public Awareness Campaign has helped millions of consumers realize the value of using a Realtor to help them buy or sell real estate, and is now educating consumers about the value of housing as a long-term investment. This year’s campaign ads will be broadcast nationwide from January through November and will air more than 10,000 times on national TV and radio outlets.

Members of the San Mateo County Association of REALTORS® (SAMCAR) are also members of the California Association of REALTORS® and NAR. The San Mateo County Association of REALTORS® (SAMCAR) is a professional trade organization representing over 3,800 REALTORS® and affiliate members engaged in the real estate business on the Peninsula.

SAMCAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in San Mateo County. To find a Realtor in your area, visit www.samcar.org

The San Mateo County Association of REALTORS® (SAMCAR) is a professional trade organization representing over 3,800 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula. SAMCAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in San Mateo County.

The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.

Variations of this article have appeared in local area newspapers.

For further information, please contact Julie Ziemelis, Director of Public Affairs, e-mail , or phone (650) 696-8214.

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