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QUOTE OF THE WEEK... "Great minds must be ready not only to take
opportunities, but to make them."--Charles Caleb Colton, English
cleric, writer, and collector
INFO THAT HITS US WHERE WE LIVE... Opportunities continue to abound in the housing market. Last week, the Pending Home Sales index sailed up in March for the third month in a row, hitting its highest level since June 2013. This National Association of Realtors (NAR) measure of contract signings on existing homes was 1.1% ahead for the month and 11.1% higher than a year ago. It has now logged year-over-year gains seven months in a row. The NAR's chief economist sees "an increased number of traditional buyers" and concludes that "this year's activity is being driven by more long-term homeowners."
But that same economist is also concerned about tight inventories, noting "demand in many markets is far exceeding supply." Those supply challenges could be alleviated if more sellers entered the market. Perhaps they will, as prices continue to improve. The S&P/Case-Shiller Home Price Index reported prices rising faster than expected. Annual growth for the 20-city index accelerated to 5% in February. This measure has in fact shown positive year-over-year gains for 34 months in a row – almost three years of price appreciation! But there's still good value to be had. The Chairman of the S&P/Case-Shiller Index Committee noted that "nationally, prices are almost 10% below the high set in July 2006."
BUSINESS TIP OF THE WEEK... Do not underestimate the power of commitment. Totally commit to everything you do in business and personally – and see the difference that commitment will make.
INFO THAT HITS US WHERE WE LIVE... Opportunities continue to abound in the housing market. Last week, the Pending Home Sales index sailed up in March for the third month in a row, hitting its highest level since June 2013. This National Association of Realtors (NAR) measure of contract signings on existing homes was 1.1% ahead for the month and 11.1% higher than a year ago. It has now logged year-over-year gains seven months in a row. The NAR's chief economist sees "an increased number of traditional buyers" and concludes that "this year's activity is being driven by more long-term homeowners."
But that same economist is also concerned about tight inventories, noting "demand in many markets is far exceeding supply." Those supply challenges could be alleviated if more sellers entered the market. Perhaps they will, as prices continue to improve. The S&P/Case-Shiller Home Price Index reported prices rising faster than expected. Annual growth for the 20-city index accelerated to 5% in February. This measure has in fact shown positive year-over-year gains for 34 months in a row – almost three years of price appreciation! But there's still good value to be had. The Chairman of the S&P/Case-Shiller Index Committee noted that "nationally, prices are almost 10% below the high set in July 2006."
BUSINESS TIP OF THE WEEK... Do not underestimate the power of commitment. Totally commit to everything you do in business and personally – and see the difference that commitment will make.
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