November 2014 MLS Sales Statistics The November 2014

November 2014 MLS Sales Statistics The November 2014 MLS statistics will be released this Wednesday morning, and here are some highlights of the report: • Houston home sales rose again. Year-over-year sales increased 1. 8 percent, with a total of 5, 092 single-family units sold. • Sales activity has driven months of inventory down to a 2. 7 -months supply compared to the 2. 9 -months supply of last November. That matches the record low level reached in January 2014. • Prices achieved record highs for a November: the single-family home average price was $271, 232 while the median price was $194, 800. • Rentals of single-family homes climbed 4. 2 percent year-over-year and the cost of renting those homes rose 5. 0 percent to $1, 669. • For more detailed information, please visit the HAR Online Newsroom for this and all other HAR news releases.

NAR Calls for Action Need Our Attention Mortgage Debt Forgiveness Tax Relief Last week, by a vote of 378 to 46, the U. S. House of Representatives extended the income-tax exemption on mortgage debt forgiven in a short sale or a workout for principal residences. The Senate has not yet voted on the measure. Please encourage your colleagues to contact their senators if they have not yet done so. NAR will continue to ask members to send messages to senators until the bill is passed or the scheduled end of the Lame Duck session on Friday, December 12. Take action now! Extend TRIA -Terrorism Risk Insurance Act Following the terrorist attacks of September 11, 2001, insurers backed out of the terrorism insurance market place prompting Congress to create a federal reinsurance risk-sharing program the "Terrorism Risk Insurance Act of 2002" (TRIA), which also mandated that insurers make terrorism coverage available along with its property and casualty lines. TRIA will expire at the end of 2014 unless Congress reauthorizes it once again. Because of the importance of terrorism insurance coverage to commercial real estate, NAR supports the continued availability and affordability of coverage made possible by the federal backstop program of the "Terrorism Risk Insurance Act" and its extensions. Take action now! To make responding to Calls for Action easier, you can always download the app. The current participation rate for the Houston Association of REALTORS is 4. 19% and for the state of Texas, it is 6. 61%. We MUST do better!

Weekly HAR Market Stat No good news goes unpunished. As the national economy churned out more than 320, 000 private jobs in November, some say the Federal Reserve is that much more likely to stick to the plan of raising rates by mid-2015. The truth is that the U. S. is on track for the strongest yearly job growth since 1999. That means more families are in a better position to buy a home, which is of course good news for housing. Let's take a look at the local housing market. In the Houston region, for the week ending November 30: • New Listings increased 9. 0% to 1, 027 • Pending Sales increased 24. 4% to 1, 220 • Closed Sales decreased 7. 4% to 1, 246

Harness the Power of Social Media Pro Boot Camp This hands-on course will help REALTORS® better understand the marketing capabilities that social media can provide. Students will learn how to brand themselves and use social media to get more exposure for their listings. This course will cover a broad array of different social media platforms and mobile applications, giving REALTORS® multiple options for marketing. Upon completion of the course, students will receive their Social Media Pro (SMP) certification. Laptops or tablets are required for SMP classes held at the Fort Bend location, and welcome but not required at all other HAR locations. Date: Tues. & Wed. , December 16 & 17 Time: 9 a. m. to 4 p. m. Location: HAR Central Investment: $149 Register online today: http: //www. har. com/edu/disp. Course. Classes. cfm? course_id=708 Questions? 713 -629 -1900 ext. 6