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QUOTE OF THE WEEK... "The economy depends about as much on economists as the
weather does on weather forecasters." --Jean-Paul Kauffmann, French
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INFO THAT HITS US WHERE WE LIVE ... We should probably be grateful that those who forecast the economic future aren't the people responsible for creating it. Economists have been forecasting a decline in home price appreciation for some time now. And while price gains have slowed a bit, they're still pretty good. A global real estate information provider reported U.S. home prices nationwide were up 6.4% year-over-year in September. Annual gains in fact have been ranging between 4.8% and 6.5% for the last 15 months, which sounds like pretty stable appreciation. The firm projects a 4.7% price gain by September 2016, but cautions the increase may dip from September to October.
Another real estate information company reports that the third quarter was the most profitable time to sell a home in 8 years. Homeowners who sold this past July, August, and September made more than during any other quarter since 2007: an average price gain of $40,658, or 17%, over the purchase price of their property. Sellers owned their homes for 6.72 years, on average, at the time of sale. Finally, an annual survey by the National Association of Realtors (NAR) revealed that the share of first-time buyers declined for the third year in a row, from 33% to 32%, the second lowest read since 1987's 30% level. Historically, first timers should make up nearly 40% of primary purchases.
BUSINESS TIP OF THE WEEK... Stay focused on profitability. Businesses do wonderful things--solve problems for clients, create jobs, give back to the community. But a business can't do any of that good stuff without a strong bottom line.
INFO THAT HITS US WHERE WE LIVE ... We should probably be grateful that those who forecast the economic future aren't the people responsible for creating it. Economists have been forecasting a decline in home price appreciation for some time now. And while price gains have slowed a bit, they're still pretty good. A global real estate information provider reported U.S. home prices nationwide were up 6.4% year-over-year in September. Annual gains in fact have been ranging between 4.8% and 6.5% for the last 15 months, which sounds like pretty stable appreciation. The firm projects a 4.7% price gain by September 2016, but cautions the increase may dip from September to October.
Another real estate information company reports that the third quarter was the most profitable time to sell a home in 8 years. Homeowners who sold this past July, August, and September made more than during any other quarter since 2007: an average price gain of $40,658, or 17%, over the purchase price of their property. Sellers owned their homes for 6.72 years, on average, at the time of sale. Finally, an annual survey by the National Association of Realtors (NAR) revealed that the share of first-time buyers declined for the third year in a row, from 33% to 32%, the second lowest read since 1987's 30% level. Historically, first timers should make up nearly 40% of primary purchases.
BUSINESS TIP OF THE WEEK... Stay focused on profitability. Businesses do wonderful things--solve problems for clients, create jobs, give back to the community. But a business can't do any of that good stuff without a strong bottom line.
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