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QUOTE OF THE WEEK... "Money is better than poverty, if only for
financial reasons." --Woody Allen, American actor, writer, director,
and comedian
INFO THAT HITS US WHERE WE LIVE... Making that money, however, can be a challenge in the housing market. We were reminded of that once again last week when Pending Home Sales came in down 1.4% in August, following their steady climb the first half of the year. However, this index of contracts signed on existing homes is still 6.1% ahead of where it was in August a year ago. Pending homes sales in fact remain at a healthy level of activity, having risen year-over-year for the last 12 months in a row. Best of all, the index is ahead of where it was a year ago in all regions of the country, according to the National Association of Realtors (NAR).
The NAR's chief economist forecasts total existing home sales will gain 7.0% this year to around 5.28 million units. He also feels that even with August's modest decline in pending home sales, demand continues to outpace housing supply and elevate price growth in numerous markets. NAR analysts, in fact, expect the median existing home price to increase 5.8% in 2015. Yet a report from two real estate data firms found that "affordability is actually improving in most markets thanks to falling interest rates and slowing home price growth, which is allowing wage growth to catch up." This puts homes at their most affordable level in two years in the first quarter of 2015.
BUSINESS TIP OF THE WEEK... Comfort is the enemy of achievement. Never get too comfortable in your work. Challenge yourself at every opportunity. Keep raising the bar.
INFO THAT HITS US WHERE WE LIVE... Making that money, however, can be a challenge in the housing market. We were reminded of that once again last week when Pending Home Sales came in down 1.4% in August, following their steady climb the first half of the year. However, this index of contracts signed on existing homes is still 6.1% ahead of where it was in August a year ago. Pending homes sales in fact remain at a healthy level of activity, having risen year-over-year for the last 12 months in a row. Best of all, the index is ahead of where it was a year ago in all regions of the country, according to the National Association of Realtors (NAR).
The NAR's chief economist forecasts total existing home sales will gain 7.0% this year to around 5.28 million units. He also feels that even with August's modest decline in pending home sales, demand continues to outpace housing supply and elevate price growth in numerous markets. NAR analysts, in fact, expect the median existing home price to increase 5.8% in 2015. Yet a report from two real estate data firms found that "affordability is actually improving in most markets thanks to falling interest rates and slowing home price growth, which is allowing wage growth to catch up." This puts homes at their most affordable level in two years in the first quarter of 2015.
BUSINESS TIP OF THE WEEK... Comfort is the enemy of achievement. Never get too comfortable in your work. Challenge yourself at every opportunity. Keep raising the bar.
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