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QUOTE OF THE WEEK... "If opportunity doesn't knock, build a
door." --Milton Berle, American comedian
INFO THAT HITS US WHERE WE LIVE...Home builders are building plenty of doors, sending single family construction spending up 2.1% in July over June, and up 15.8% over a year ago. In fact, single family spending was the leading driver of total private residential construction spending in July. Single family starts rose 12.9% to a 782,000 annual rate, an 8-year high and the National Association of Home Builders (NAHB) is forecasting single family spending will accelerate through the rest of this year. The NAHB's chairman noted, "Our builders are reporting more confidence in the market and are stepping up production of single family homes as a result."
The Fed's latest Beige Book on economic conditions told us home sales and home prices headed up in all 12 Federal Reserve Districts. But construction activity was mixed and inventories continue to decline or stay flat. However, the overall residential outlook was positive, with the majority of Districts expecting the increased residential activity to continue. Freddie Mac's August Insight & Outlook report says that 2015 should be the best year yet, as their annual home sales projection soared to 5.73 units. The Mortgage Bankers Association's Weekly Applications Survey pegged their Purchase Index at its highest level since July, and 25% higher than a year ago.
BUSINESS TIP OF THE WEEK... At the end of each day, ask yourself, "Did I do the best that I can for my clients?" No matter what the answer, take today's level of effort and dial it up a notch tomorrow.
INFO THAT HITS US WHERE WE LIVE...Home builders are building plenty of doors, sending single family construction spending up 2.1% in July over June, and up 15.8% over a year ago. In fact, single family spending was the leading driver of total private residential construction spending in July. Single family starts rose 12.9% to a 782,000 annual rate, an 8-year high and the National Association of Home Builders (NAHB) is forecasting single family spending will accelerate through the rest of this year. The NAHB's chairman noted, "Our builders are reporting more confidence in the market and are stepping up production of single family homes as a result."
The Fed's latest Beige Book on economic conditions told us home sales and home prices headed up in all 12 Federal Reserve Districts. But construction activity was mixed and inventories continue to decline or stay flat. However, the overall residential outlook was positive, with the majority of Districts expecting the increased residential activity to continue. Freddie Mac's August Insight & Outlook report says that 2015 should be the best year yet, as their annual home sales projection soared to 5.73 units. The Mortgage Bankers Association's Weekly Applications Survey pegged their Purchase Index at its highest level since July, and 25% higher than a year ago.
BUSINESS TIP OF THE WEEK... At the end of each day, ask yourself, "Did I do the best that I can for my clients?" No matter what the answer, take today's level of effort and dial it up a notch tomorrow.
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