Nationwide Open House Kicks Off This Weekend

June 1, 2011

Real estate professionals across the country — and worldwide — will hold open houses this weekend in their local communities to spotlight home ownership as part of the 2011 REALTOR® Nationwide Open House event.

About 250 local associations from 30 states will be participating in an event designed to build buyer momentum around home ownership during tens of thousands of open houses.

The nationwide open house event began several years ago in a few markets, but has since expanded to hundreds of communities, in which real estate professionals not only use it to spotlight homes for sale but also use it as an opportunity to educate the public about the benefits of home ownership, according to the National Association of REALTORS®. Several countries internationally are also taking part, including real estate professionals in Canada, Denmark, France, Sweden, United Kingdom, Peru, and others.

The event, June 4-5, falls in the midst of what is typically prime buying season. And recent housing news gives real estate professionals plenty of encouraging news for home buyers: The National Association of Home Builders reported last week that home affordability reached its highest level in 20 years, making the purchasing power for buyers better than it has been in decades. Plus, Freddie Mac reported last week that for the sixth straight week fixed-rate mortgages inched down, reaching new lows for 2011.

“Home ownership benefits individuals and families, as well as strengthens our communities,” Karen Parkin, 2011 president of the Wilmington Regional Association of REALTORS® in North Carolina, told the Cape Fear Business News. The association is among many nationwide participating in the event this weekend. “Through this nationwide event, we will not only educate the public on the value of owning a home, but also help those who are striving to become home owners take steps toward achieving their goals.”

In Washington state, real estate agents were estimating that up to 7,000 homes would be participating in the event.

Real estate professionals are invited to hold open houses in their area to join in the nationwide open house event. For more information, contact your local REALTOR® association for details about how to participate.

Source: “Summer Event Will Spotlight on Home Ownership,” REALTOR.org and “Nationwide Open House Weekend Set for June 4th & 5th,”Cape Fear Business News (June 1, 2011), REALTOR®Magazine Online