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QUOTE OF THE WEEK... "What's the use of happiness? It can't buy you
money." --Henny Youngman, British-born American comedian and violinist
INFO THAT HITS US WHERE WE LIVE ... Neither money nor happiness played a big role in last week's housing market reports. New Home Sales in September dropped 11.5%, sinking to a 468,000 annual rate. However, these sales are still up 2.0% compared to a year ago. Other positive news included a 9,000 unit increase in inventories, a good sign in the current supply strained market. The median price of new homes sold was up 13.5% from a year ago. It should also be remembered that new home sales surged in August. With this monthly volatility, the trend is what's key, and even with September's slide, new home sales in the last year averaged the fastest pace since 2008.
The Pending Home Sales index of contracts signed on existing homes headed down 2.3% in September after a 1.4% slide in August. These will be counted as existing home sales when they close, which should make that number drop in October. But existing home sales shot up in September, so this is just another example of housing market volatility. And homes still look like a good investment, as prices continue to head up. The national Case-Shiller home price index was up 0.4% in August, its biggest gain in six months. This closely watched measure is 4.7% ahead of a year ago. At that time, it was up 5.1% for the year, so price gains have slowed some.
BUSINESS TIP OF THE WEEK... Be a self-starter. If something needs to be done, don't wait for someone to give you permission--start doing it! Set the parameters for the project and make sure it stays on course.
INFO THAT HITS US WHERE WE LIVE ... Neither money nor happiness played a big role in last week's housing market reports. New Home Sales in September dropped 11.5%, sinking to a 468,000 annual rate. However, these sales are still up 2.0% compared to a year ago. Other positive news included a 9,000 unit increase in inventories, a good sign in the current supply strained market. The median price of new homes sold was up 13.5% from a year ago. It should also be remembered that new home sales surged in August. With this monthly volatility, the trend is what's key, and even with September's slide, new home sales in the last year averaged the fastest pace since 2008.
The Pending Home Sales index of contracts signed on existing homes headed down 2.3% in September after a 1.4% slide in August. These will be counted as existing home sales when they close, which should make that number drop in October. But existing home sales shot up in September, so this is just another example of housing market volatility. And homes still look like a good investment, as prices continue to head up. The national Case-Shiller home price index was up 0.4% in August, its biggest gain in six months. This closely watched measure is 4.7% ahead of a year ago. At that time, it was up 5.1% for the year, so price gains have slowed some.
BUSINESS TIP OF THE WEEK... Be a self-starter. If something needs to be done, don't wait for someone to give you permission--start doing it! Set the parameters for the project and make sure it stays on course.
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