La Paz, BCS, Mexico - Welcome to our Second Quarter, 2013 Newsletter. There were four significant events during the quarter. First was the National Association of Realtors (NAR) mid-year meetings; second was the Investment, Resort, and Second Home Forum in San Jose del Cabo, the third was the CIPS course in English for the first time in Mexico, and fourth, what appears to be the start of recovery for the existing-home sales market in various parts of the U.S.A.

NAR International Real Estate Event

As usual, the midyear meeting of the National Association of Realtors (NAR), held earlier this month in Washington D.C., had a truly international flavor. The Global Networking Reception presented an opportunity for Realtors from around the Globe to renew acquaintances with old friends and make new ones. Read more »»

2013 'VIVA Mexico' Forum in Los Cabos a Huge Success

'Viva Mexico,' an investment, resort and second home forum, was recently held in San José del Cabo, Mexico. An integral part of the National Association of Realtors' Spotlight Mexico 2013 program, the Forum was hosted by the Los Cabos Section of the Mexican Association of Real Estate Professionals with strategic support from the National Association of Realtors. Following the Forum a five day CIPS Institute was presented. Read more »»

Property Prices Rise in Most Global Markets
Source: NAR Global Weekly Update

Average residential property prices around the world increased by 6.6 percent on an annual basis, the highest rate of growth since the second quarter of 2010, according to the Knight Frank global house price index. The index also shows overall global prices rose by 2% percent in the first quarter of 2013. Europe was the only world region that did not see prices rise, and housing values in Greece, Hungary, and the Netherlands were hit especially hard.

Existing-Home Sales Rise in May with Strong Price Increases
Source: National Association of Realtors

WASHINGTON (June 20, 2013) - Existing-home sales improved in May and remain solidly above a year ago, while the median price continued to rise by double-digit rates from a year earlier, according to the National Association of Realtors. Total existing-home sales, which are completed transactions that include single-family homes, town homes, condominiums and co-ops, rose 4.2 percent to a seasonally adjusted annual rate of 5.18 million in May from 4.97 million in April, and is 12.9 percent above the 4.59 million-unit pace in May 2012.

Lawrence Yun, NAR chief economist, said the recovery is strengthening and to expect limited housing supplies for the balance of the year in much of the country. "The housing numbers are overwhelmingly positive. However, the number of available homes is unlikely to grow, despite a nice gain in May, unless new home construction ramps up quickly by an additional 50 percent," he said. "The home price growth is too fast, and only additional supply from new homebuilding can moderate future price growth."

Existing-home sales are at the highest level since November 2009 when the market jumped to 5.44 million as buyers took advantage of tax stimulus. Sales have stayed above year-ago levels for 23 months, while the national median price shows 15 consecutive months of year-over-year increases. Total housing inventory at the end of May rose 3.3 percent to 2.22 million existing homes available for sale, which represents a 5.1-month supply at the current sales pace, down from 5.2 months in April. Listed inventory is 10.1 percent below a year ago, when there was a 6.5-month supply.