Job Data HighlightsThe US unemployment rate declined from 8.9 percent in February

to 8.8 percent in March. (went back up to 9% in April)

• 34 states saw a decline in the unemployment rate in thismonth with New Mexico, Florida, and Nevada seeingthe largest fall. The unemployment rate was unchangedin 9 states and DC.

• In March, North Dakota, Nebraska, and South Dakotahad the lowest unemployment rates—all under 5percent. Rhode Island, Florida, California, and Nevadahad the highest rates among the 50 states and DC.

More Highlights & Outlook

• 38 states had positive job growth in March, and the average job growth in states was 0.1%.

• The greatest job growth in March was in Missouri while Maine had the largest job decline.

• Moving forward, increasing labor force participation may keep the unemployment rate

high even as jobs are being added.

How is underemployment doing?

Where are we this spring?

Existing-home sales increased 3.7% from February to March to a seasonally adjusted annual rate of 5.10 million (April went back to 5.05 millon)

About 40% of existing homes bought last month were distressed properties

The median sales price for an existing home was $159,600, down 5.9% from the year-ago median price of $169,600

Sales were up 3.9% in the Northeast, 1.0% in the Midwest, 8.2% in the South, and down 0.8% in the West

Percentage of Sales by State

Shadow Inventory by State

What about the HVCC(Home Valuation Code of Conduct)

• Establishes standards for solicitation, selection, compensation, conflicts of interest and appraiser independence.

• It was effective May 1, 2009, for any mortgage that will be sold to Fannie Mae or Freddie Mac; Federal Housing Administration (FHA) and Federal Home Loan Bank (FHLB) mortgages are not covered in the agreement.

So where are the opportunities?

Stats to remember• 48% of sales people never follow up with a prospect• 25% of sales people make a second contact and stop• 12% of sales people make more than three contacts

And yet 26.6% of all inquiries result in a sale

This should motivate you• 2% of sales are made on the first contact• 3% of sales are made on the second contact• 5% of sales are made on the third contact• 10% of sales are made on the fourth contact• 80% of sales are made on the fifth to twelfth contact

Why should you be doing everything possible to stay in touch with people right now?

Real Estate: It’s time to buy againhttp://finance.fortune.cnn.com/2011/03/28/real-estate-its-time-to-buy-again/

So What’s New!!