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The National Association of Realtors has created a first-of-its-kind campaign, which declares that “It’s a great time to buy or sell a home,” which will launch today with full-page ads in The Wall Street Journal and USA Today.
The campaign comes at a time when many are predicting that sales and prices, which fell in August and September compared to last year, may decline further, writes The New York Times.
The trade group represents 1.3 million real estate agents and according to president Thomas M. Stevens, members are saying, “God, we are getting beat up out there.”
The message of the campaign is to tell buyers that conditions are ideal for buying. The campaign might be seen as an act of desperation, however, as independent economists predict that prices will decline, not rise.
On the other hand, the campaign can only mean good news for newspapers, which have seen real estate ad revenue steadily decline in recent months. Newspaper real estate ads are expected to decline 8 percent this year compared to last, and papers such as The New York Times have launched real estate websites to help offset the loss of print advertising.
The ads cite a 4.3 percent increase in the number of existing home sales contracts signed in August as evidence that prices have stabilized. But new data released by the association on Wednesday showed that contract signings fell 1.1 percent in September from August, and 13.6 percent from last year.
A spokesman said the ads were created before the new figures were available, and that they would updated next week.
Stevens points out that sales are on track to hit their third-highest level in 2006, following 2005 and 2004.
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