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QUOTE OF THE WEEK... "You have to expect things of yourself
before you can do them."--Michael Jordan, former professional
basketball player, team owner, and entrepreneur
INFO THAT HITS US WHERE WE LIVE... The economic forecast forum at the National Association of Realtors (NAR) Legislative Meetings expects existing home sales to finish 2015 at their highest level since 2006. In fact, existing home sales in March jumped 6.1%, to 5.19 million units, its highest annual rate in 18 months, providing a nice start to the spring home buying season. But the NAR's chief economist cautioned that "housing supply needs to increase measurably to meet the pent-up demand for buying." Fortunately, he also expects housing starts at around 1.1 million this year and 1.4 million the next, almost reaching the 1.5 million rate needed to meet underlying demand.
Expectations are also high at the National Association of Home Builders (NAHB). Their latest survey found 85% of metro areas saw an uptick in home affordability. The NAHB put this to mortgage rates dropping and home prices advancing at a more moderate rate. Their chief economist notes, "The past two quarters have seen an improvement in affordability...[which] should help encourage more buyers to enter the marketplace." The chief property economist at a major research consultancy tells us, "nine out of ten people still see homeownership as a key part of the American dream." And a survey by a national listing site reports 5.2 million renters expect to buy a home this year.
BUSINESS TIP OF THE WEEK... Start each day by making a list of the 5 most important tasks you need to accomplish. Then do those first. You'll never be behind on the things that count!
INFO THAT HITS US WHERE WE LIVE... The economic forecast forum at the National Association of Realtors (NAR) Legislative Meetings expects existing home sales to finish 2015 at their highest level since 2006. In fact, existing home sales in March jumped 6.1%, to 5.19 million units, its highest annual rate in 18 months, providing a nice start to the spring home buying season. But the NAR's chief economist cautioned that "housing supply needs to increase measurably to meet the pent-up demand for buying." Fortunately, he also expects housing starts at around 1.1 million this year and 1.4 million the next, almost reaching the 1.5 million rate needed to meet underlying demand.
Expectations are also high at the National Association of Home Builders (NAHB). Their latest survey found 85% of metro areas saw an uptick in home affordability. The NAHB put this to mortgage rates dropping and home prices advancing at a more moderate rate. Their chief economist notes, "The past two quarters have seen an improvement in affordability...[which] should help encourage more buyers to enter the marketplace." The chief property economist at a major research consultancy tells us, "nine out of ten people still see homeownership as a key part of the American dream." And a survey by a national listing site reports 5.2 million renters expect to buy a home this year.
BUSINESS TIP OF THE WEEK... Start each day by making a list of the 5 most important tasks you need to accomplish. Then do those first. You'll never be behind on the things that count!
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