- In 2012, less than 12 percent of U.S. residents moved and less than two percent had moved from one state to another. (“Generational Perspectives on Residential Mobility: Implications for Housing Demand”)
- Sixty-seven percent of top producing REALTORS® with an income of at least $150,000 have a Bachelor’s Degree or higher. (“Education and Success in Real Estate: The Relationship Between Education Levels and Success Among Top Producing Real Estate Professionals in the Intermountain Multiple Listing Service”)
- Twenty-two percent of buyers who were born between 1955 and 1964 purchased a multigenerational home. (“Multigenerational Housing: A Multifaceted Issue”)
- Within 30 hours of the terrorist attacks on 9/11, NAR launched the REALTORS® Housing Relief Fund (“From the Archives: 2000-2009: A Decade of Turbulence”)
The Journal of the Center for Real Estate Studies, edited and published by the Richard J Rosenthal Center for Real Estate Studies, has released its Fall Edition, volume 2, number 2. There is much to be gleaned from top research that addresses important issues in real estate today.
The first article, “Generational Perspectives on Residential Mobility: Implications for Housing Demand,” by Lisa A. Sturtevant, Ph.D., Vice President for Research for the National Housing Conference and Executive Director of the Center for Housing Policy in Washington, DC, reports on a research project, sponsored by the Rosenthal Center, designed to examine the decline in residential mobility in the United States. In particular, Sturtevant notes, the Echo Boom population, or Millennials, who were in their 20s in the last decade, appear to be significantly less mobile than their predecessors, the Baby Boomers were, and this decline in mobility is associated with life-cycle factors, the economic recession and the housing market. This research and was presented during THE NATIONAL ASSOCIATION OF REALTORS® Annual Conference & Expo in New Orleans. We are proud of the funding role the Richard J. Rosenthal Center for Real Estate Studies has played.
In her winning Capstone Project from the 2014 graduating class at REALTOR® University, Tami McHugh, MRE examines the relationship between educational attainment and the level of success, focusing on the real estate industry in her native Idaho. McHugh’s key findings show education often trumps experience. Research showed there is a significant positive relationship between education and success among top producing real estate professionals. In this study, 93 percent of top producers had attended at least some college, 60 percent had earned a bachelor’s degree or higher and 14 percent had attended or completed graduate school. In addition, the positive correlation between income and post-graduate education is a strong indicator of the value and need for real estate professionals to consider pursuing post-graduate education.
Finally, Jessica Lautz, Director, Member and Consumer Survey Research, NATIONAL ASSOCIATION OF REALTORS®, in Washington, DC writes in “Multigenerational Housing: A Multifaceted Issue,” that a variety of data sources suggest a trend of moving back to multigenerational housing is now underway. 14 percent of recent buyers purchased a multigenerational home and 24 percent of multigenerational buyers bought this type of home because children over the age of 18 were moving back into the home. In her research, Lautz shows that understanding the needs and potential growth of these types of homes is essential for real estate professionals.
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