WASHINGTON, DC -- David Lereah, senior vice president and chief economist of the National Association of Realtors(R) for the past seven years, is joining Move Inc. as executive vice president of a new business entity, effective in mid-May.
Move Inc. operates NAR's official Web site, http://www.realtor.com/, and http://www.move.com/.
Lereah will act as chairman and partner of the new enterprise under Move Inc. that will launch in the third quarter of 2007. He will serve with Allan Dalton, who will be president and CEO of the new business entity, which will be transformational for both consumers and real estate professionals.
"David is an expert on real estate and the economy, and his stature and expertise enhanced NAR's position as the most credible source on economic and policy issues affecting the housing industry in the United States and abroad," said Dale Stinton, NAR executive vice president and CEO. "We wish him the greatest success in his new endeavor."
At NAR, Lereah directed the Research Division, the Regulatory and Industry Relations Division, the Real Estate Services Group and Strategic Planning Activities for the association, and served with distinction. During his tenure, NAR launched the monthly Pending Home Sales Index, a forward-looking indicator based on ratified contracts that have not yet closed. Coupled with existing-homes data, the PHSI established NAR as the dominant voice in real estate providing financial and housing writers a clearer picture of the state of the real estate industry.
Mike Long, chief executive officer of Move, Inc., said, "After serving as the spokesperson for NAR for the past seven years, David brings vast real estate savvy and knowledge to the company that will help guide us in our next phase of growth and expansion with new ventures."
"Having David partner with me on this new venture will ensure that consumers and the industry will benefit from his unparalleled knowledge of financial issues and the real estate marketplace," said Dalton.
Lereah received his B.A. in Economics & Marketing from American University, Washington, D.C., and his Ph.D. in Economics from the University of Virginia, Charlottesville, Va.
The National Association of Realtors(R), "The Voice for Real Estate," is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.
Information about NAR is available at http://www.realtor.org/. This and other news releases are posted in the Web site's "News Media" section at http://www.realtor.org/press_room/index.html.
REALTOR(R) is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS(R) and subscribe to its strict Code of Ethics. Not all real estate agents are REALTORS(R). All REALTORS(R) are members of NAR.
Source: Move Inc.; National Association of Realtors
CONTACT: Lucien Salvant of the National Association of Realtors,
+1-202-383-1176, lsalvant@realtors.org
Web site: http://www.realtor.org/
http://www.move.com/
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