NAR Spokesmodel David Lereah Resigns

WASHINGTON, April 30 /PRNewswire-USNewswire/ -- 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.