Nationwide Open House Kicks Off This Weekend

Real estate professionals across the country–and
worldwide–will hold open houses this

in their local communities to spotlight home ownership as

part of the 2011 REALTOR® Nationwide
Open House

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

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
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

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