Posts
QUOTE OF THE WEEK... "Well done is better than well said."--Benjamin
Franklin, American Founding Father, author, printer, politician, postmaster,
scientist, inventor, and diplomat
INFO THAT HITS US WHERE WE LIVE... Last month, real estate professionals clearly did well. Existing Home Sales went up 5.1% in May, hitting a better than expected 5.35 million annual rate. Even more important, sales are up 9.2% over a year ago, confirming that the trend is solidly positive. The May gain came pretty much all from single-family homes, although condos and coops were also up for the month. The median price of an existing home is now 7.9% over where it was a year ago. It was particularly nice to see sales increase in all major regions of the country. And, get this, 45% of homes sold in May had been listed less than a month.
New builds also did well. New Homes Sales were up 2.2% in May, to a 546,000 annual rate, 19.5% ahead of a year ago. The Mortgage Bankers Association (MBA) reported the seasonally adjusted Purchase Index up 1% from the week before, while the unadjusted Purchase Index was 18% higher than the same week last year. The FHFA index of prices for homes financed with conforming mortgages was 5.3% up from a year ago. Lastly, the Consumer Financial Protection Bureau now proposes postponing its TRID regulations from August 1 to October 3. It will hear responses to this proposal until July 7, after which a decision will be announced on when the new mortgage regs will start.
BUSINESS TIP OF THE WEEK... Focus on skills more than strategies. Experts say that developing your skills builds confidence, increases profitability, and is the best basis for long-term success.
INFO THAT HITS US WHERE WE LIVE... Last month, real estate professionals clearly did well. Existing Home Sales went up 5.1% in May, hitting a better than expected 5.35 million annual rate. Even more important, sales are up 9.2% over a year ago, confirming that the trend is solidly positive. The May gain came pretty much all from single-family homes, although condos and coops were also up for the month. The median price of an existing home is now 7.9% over where it was a year ago. It was particularly nice to see sales increase in all major regions of the country. And, get this, 45% of homes sold in May had been listed less than a month.
New builds also did well. New Homes Sales were up 2.2% in May, to a 546,000 annual rate, 19.5% ahead of a year ago. The Mortgage Bankers Association (MBA) reported the seasonally adjusted Purchase Index up 1% from the week before, while the unadjusted Purchase Index was 18% higher than the same week last year. The FHFA index of prices for homes financed with conforming mortgages was 5.3% up from a year ago. Lastly, the Consumer Financial Protection Bureau now proposes postponing its TRID regulations from August 1 to October 3. It will hear responses to this proposal until July 7, after which a decision will be announced on when the new mortgage regs will start.
BUSINESS TIP OF THE WEEK... Focus on skills more than strategies. Experts say that developing your skills builds confidence, increases profitability, and is the best basis for long-term success.
No comments:
Post a Comment