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News Summary for September 14

Top news outlets Reuters and SmartMoney.com covered Tom Stevens' testimony before the Senate Banking Committee on the housing market and economy. “After five years of outstanding growth, the housing market is undergoing a period of adjustment and becoming more and more of a balanced market between buyers and sellers,” said Stevens. He continued, “Contrary to many reports, there is not a 'national housing bubble.' All real estate is local. For example, the housing market in California is extremely different from Oklahoma.”

Realty Times wrote an article on the transitioning real estate market entitled “Why NAR Expects Home Sales to Lift from Temporary Dip” that quotes Tom Stevens and David Lereah. “This is a normal pattern during a market correction, but home prices should return to positive territory within a few months and annual appreciation will be slower than historic norms,” stated Lereah.

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News coverage shapes perceptions of people, organizations and entire industries.
Yet few of us understand what goes into the making of a news story. “NAR in the News” will give its readers a peek behind the scenes into how journalists cover the nation’s largest trade association and the 1.2 million REALTORS® it represents.

This blog is also a place for REALTORS® and others to express their opinions and ask questions that we will try to answer. “NAR in the News” is produced by NAR’s Public Affairs Division.


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