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QUOTE OF THE WEEK... "It's so simple to be wise. Just think of something
stupid to say and say the opposite." --Sam Levenson, American humorist,
writer, and television host
INFO THAT HITS US WHERE WE LIVE ...These days it's wise to say a home is a good investment, which is the opposite of what some observers now say. But the fact is, home values continue to appreciate. A leading real estate data firm reported home selling prices nationwide were up 6.8% in October compared to a year ago. They grew 1% over September's prices, which were up 0.6% over August's. Looking ahead, the data firm projects home prices will increase 5.2% by October 2016. Their CEO adds: "The rise in home prices over the past few years has largely been a healthy trend...home equity levels are now approaching pre-recession levels."
In addition to making a home a good investment, price gains are also bringing more sellers into the market. This will of course help relieve the inventory shortages, which have held back sales growth in some markets. Nationally, Pending Home Sales were up just 0.2% in October, but they're up 3.9% versus October a year ago and have enjoyed 14 months in a row of year-over-year gains. This measure of contracts signed on existing homes suggests closed sales should be up slightly in November. Supply does continue to increase, as construction spending rose a better-than-expected 1% in October, hitting its highest level since December 2007.
BUSINESS TIP OF THE WEEK... Are your customers getting the full benefit of what you have to provide? Strive to have your work really make a difference in other peoples' lives.
INFO THAT HITS US WHERE WE LIVE ...These days it's wise to say a home is a good investment, which is the opposite of what some observers now say. But the fact is, home values continue to appreciate. A leading real estate data firm reported home selling prices nationwide were up 6.8% in October compared to a year ago. They grew 1% over September's prices, which were up 0.6% over August's. Looking ahead, the data firm projects home prices will increase 5.2% by October 2016. Their CEO adds: "The rise in home prices over the past few years has largely been a healthy trend...home equity levels are now approaching pre-recession levels."
In addition to making a home a good investment, price gains are also bringing more sellers into the market. This will of course help relieve the inventory shortages, which have held back sales growth in some markets. Nationally, Pending Home Sales were up just 0.2% in October, but they're up 3.9% versus October a year ago and have enjoyed 14 months in a row of year-over-year gains. This measure of contracts signed on existing homes suggests closed sales should be up slightly in November. Supply does continue to increase, as construction spending rose a better-than-expected 1% in October, hitting its highest level since December 2007.
BUSINESS TIP OF THE WEEK... Are your customers getting the full benefit of what you have to provide? Strive to have your work really make a difference in other peoples' lives.
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