Slide 1: Northern Virginia Association of Realtors®
Slide 2: 2010 Chairman of the Board
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 3:
$8,000 – First-time buyers $6,500 – Long-time buyers Economy Contributed – nearly $24 billion
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 4: Housing Act Recovery Act Assistance Act (First-time) Assistance Act (Long-time)
Number of Claims
45,684 (49%) 31,409 (34%) 11,758 (12%)
4,459 (5%)
Total: 93,310
Source: GAO analysis of IRS data.
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 5: Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 6: Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 7:
Decline in Sales Volume in 3rd Quarter Increased Inventory Home Prices Stabilizing at New Levels Smaller, Appropriately-Priced Homes Sell Quickly Strong Market for Investors w/Cash All-Cash Offers Accepted Over Financing
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 8: Oct/Nov - 2009 vs. 2010
1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 Oct. 2009 Nov. 2009 Oct. 2010 Nov. 2010
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
1,604
1,567 1,229 1,260
Slide 9: Pending Homes vs. Home Sales Month of November 2009 & 2010
1800 1600 1400 1200 1000 800 600 400 200 0 Nov. 2009 Nov. 2010
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Sales 1,534
Pending
1,538
Slide 10: 2,500 2,000 1,500 1,000 500 0 JAN '08
JAN '09
JAN '10
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 11: Nov. 2007 to Nov. 2010
2007 2008 2009 2010 $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 12: Nov. Nov.
2010 – 63 days 2009 – 50 days
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 13: 6 5 4 3 2 1 0 2.7
5.1 5 5.2
MBA Mortgage Finance Forecast November 24, 2010
4.9 5 4.9 4.9
4.4
4.5
4.7
4.8
5.1 5.2
5.4
5.5
5.7
3.5 3.5 3.7 3.5 3.3
2.8 2.8 2.9
3
3.8 3.5 3.7 3.1 3.3 10-Year Treasury Yield %
4
30-Year Fixed Rate Mortgage %
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2009
Source: Mortgage Bankers Association (MBA)
2010
2011
2012
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 14: Source: Mortgage Bankers Association (MBA)
Virginia Mortgage Loans in Foreclosure
15,000 12,500
Subprime
10,000 7,500 5,000 2,500
Prime & Govt. ARM Prime & Govt. Fixed Rate
High and Low Scenarios
0
20 -2 06 20 -3 06 20 -4 07 20 -1 07 20 -2 07 20 -3 07 20 -4 08 20 -1 08 20 -2 08 20 -3 08 20 -4 09 20 -1 09 20 -2 09 20 -3 09 20 -4 10 20 -1 10 20 -2 10 20 -3 10 20 -4 11 20 -1 11 20 -2 11 20 -3 11 20 -4 12 20 -1 12 20 -2 12 20 -3 12 -4
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
20
06
Slide 15:
Metro area added 43,700 new jobs Northern VA rate: >/= 5% for each jurisdiction Arlington rate: 3.9% National rate: Virginia rate: 9.8 % 6.8 %
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 16: Easy access to global markets Excellent quality of life
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 17: Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 18:
A new normal Consumer uncertainty No sense of buyer urgency
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 19: Expect 2011 to look like 2010 All real estate is local, sometimes hyper-local Sustainable lending practices Average and median prices rise modestly
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 20:
Oct. – 77 Home Sales < $900,000
3 - $2,500,000 – 4,999,999
Nov. – 80 Home Sales < $900,000
3 - $2,500,000 - $4,999,999
1 - $5,000,000 & Over
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 21: Loudon County, VA Fairfax County, VA Howard County, MD City of Fairfax, VA Arlington County, VA Montgomery County, MD Stafford County, VA Calvert County, MD Prince Williams, VA Charles County, VA City of Alexandria, VA
$110,643 $106,785 $101,710 $98,133 $96,390 $93,999 $89,536 $89,049 $88,675 $86,586 $85,135
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 22: Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 23: Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 24:
Spring Forecast – March 24 Economic Summit – September 15
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
Slide 25: For more information, visit NVAR.com or contact NVAR at 703.207.3200
Northern Virginia Association of Realtors® 2010 Year-End Press Conference
