NAR February 2017 Foot Traffic Infographic

Source: nar.realtor

Every month SentriLock, LLC. provides NAR Research with data on the number of properties shown by a REALTOR®. Lockboxes made by SentriLock, LLC. are used in roughly a third of home showings across the nation. Foot traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future. This infographic shows the latest index data along with trends and changes.

NAR Foot Traffic Infographic

Realogy Issues 2017 Corporate Social Responsibility Report

Global real estate services leader facilitated $10 million in 2016 philanthropic donations, including support for housing-related causes

Madison, NJ – March 28, 2017 (PRNewswire) Realogy Holdings Corp. (NYSE: RLGY) today issued the 2017 Realogy Corporate Social Responsibility (CSR) Report, highlighting the progress the Company has made during the past year in contributing to society by supporting the well-being of its employees, global communities and the environment, while reflecting its purpose of opening doors for people across the world. The report cover features a photograph of a new community being built in Ahuachapán, El Salvador, through the Company’s support for New Story, an innovative charity organization.

To read the Realogy 2017 CSR Report click here.

Realogy

“As a global leader in the real estate services industry, we take pride in our responsibility of bringing the dream of homeownership to individuals and families in communities across the nation and around the world — and our people actively support numerous causes that provide shelter and answer life’s basic needs,” said Richard A. Smith, Realogy’s chairman, chief executive officer and president. “We are proud of our employees and affiliated agents helping to provide for a better future through their service to others and the stewardship of our environment.”

The Realogy CSR Report summarizes a variety of initiatives the Company has made in the areas of ethics and compliance, employee wellness, workplace, marketplace diversity, community outreach and environmental stewardship.

Key 2016 Highlights

  • Realogy has been recognized by Ethisphere Institute as being among the World’s Most Ethical Companies® for six consecutive years, including 2017.
  • Across its three largest company locations, Realogy recycled 230 tons of commingled waste.
  • Realogy offered a cumulative year-long incentive campaign to boost employee engagement in wellness activities.
  • The Company quadrupled the number of Employee Resource Groups to help drive diversity initiatives across the organization.v
  • Realogy continued its strong support for real estate associations that promote inclusion and understanding of diverse viewpoints, by appearing as speakers, panelists and moderators at industrywide conferences – with several company representatives holding volunteer leadership posts for these associations and events.
  • In partnership with the Realogy Charitable Foundation, Realogy facilitated total philanthropic donations of more than $10 million – and totaling over $93 million since 2006.

About Realogy Holdings Corp.

Realogy Holdings Corp. (NYSE: RLGY) is a global leader in residential real estate franchising and brokerage with many of the best-known industry brands including Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, The Corcoran Group®, ERA®, Sotheby’s International Realty® and ZipRealty®. Collectively, Realogy’s franchise system members operate approximately 14,100 offices with more than 273,200 independent sales associates conducting business in 112 countries and territories around the world. NRT LLC, Realogy’s company-owned real estate brokerage, is the largest residential brokerage company in the United States, operates under several of Realogy’s brands and also provides related residential real estate services. Realogy also owns Cartus, a prominent worldwide provider of relocation services to corporate and affinity clients, Title Resource Group (TRG), a leading provider of title, settlement and underwriting services and ZapLabsSM, its innovation and technology development subsidiary. Realogy is headquartered in Madison, New Jersey.

Media Contact:

Kathy Borruso
Kathy.borruso@realogy.com
(937) 407-5041

Redfin Housing Demand Index Dips from January’s Record High

Limited supply is a key factor holding back sales this spring amid overall strong buyer interest

Seattle, WA – March 28, 2017 (BUSINESS WIRE) The Redfin Housing Demand Index decreased 8.5 percent from January’s record high, to a seasonally adjusted level of 118 in February, according to Redfin (www.redfin.com), the next-generation real estate brokerage.

Redfin Logo

Despite the dip from the previous month, this was the strongest February for homebuyer demand since at least 2013, the first year measured by the index. The Demand Index is based on thousands of Redfin customers requesting home tours and writing offers. A level of 100 represents the historical average for the three-year period from January 2013 to December 2015.

Compared to January, the seasonally adjusted number of buyers requesting tours was down 8.2 percent in February, while the seasonally adjusted number of buyers writing offers was down 7.7 percent.

“The only factor holding back sales this spring is supply,” said Redfin chief economist Nela Richardson. “Limited inventory, particularly for starter homes, has put a crimp in the 2017 market. We expect to see more listings hit the market this spring, but there will still not be enough inventory to match homebuyer demand.”

While lower than January’s all-time high, homebuyer demand in February remained well above levels seen around this time last year. Demand was up 20.0 percent compared to the previous February, led by a 25.7 percent year-over-year increase in homebuyers requesting tours and an 11.9 percent increase in buyers making offers.

February continued a trend of limited selection for homebuyers, who saw 7.2 percent fewer new listings hit the market, and 13.9 percent fewer homes on the market overall than the previous February.

Denver Buyers Out in Full Force Despite Historically Limited Selection

The Denver-area Demand Index was at 166 in February, up 100.4 percent compared to the same time last year. Demand was strong despite inventory 30.7 percent lower than this time last year.

“The Denver metro is seeing incredibly limited selection, with the number of homes for sale down to its lowest level in over 30 years,” said Redfin real estate agent Corey Keach. “But that hasn’t stopped buyers, from whom there is as much, if not more, interest than last year. Add that up, and you have a lot of pressure on the market, with multiple offers basically an expectation, particularly for those single-family homes in price ranges below $500,000. And it’s rare for a non-cash buyer to win any home under $300,000.”

“Homes in higher price points are also seeing strong competition, and even some $1 million and $2 million dollar homes in Boulder are seeing multiple offers. Competition at that price point used to be rare here, which shows just how hot the market is.”

Redfin real estate agents also noted that the problem of limited choice of homes has been worsened by the influx of residents to the Denver area, which is experiencing strong economic growth. With very few residents leaving, the metro’s population is outpacing its housing supply.

For additional national and local data and analysis, including metro-level charts and insights from real estate agents, please visit: www.redfin.com.

About Redfin

Redfin (www.redfin.com) is the next-generation real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer’s favor. Founded by software engineers, Redfin has the country’s #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry’s lowest published error rate. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 80 major metro areas across the U.S. The company has closed more than $40 billion in home sales through 2016.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center.

Contacts

Redfin Journalist Services
Alex Starace
(206) 588-6863
press@redfin.com