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QUOTE OF THE WEEK... "I think in terms of the day's resolutions, not the
year's." --Henry Moore, English sculptor and artist
INFO THAT HITS US WHERE WE LIVE ... To stay focused on the day is a pretty useful piece of advice, since that's where progress is made. Progress, however, seemed elusive in last week's Pending Home Sales number, which declined slightly in November. Yet this National Association of Realtors (NAR) index of contracts signed on existing homes was still a decent 2.7% ahead of where it was a year ago. Plus, we've now seen year-over-year gains in pending home sales for 15 months in a row. True, there's been a modestly slowing trend since the index peaked at a nine-year high last May, but the housing market remains constrained by tight inventory levels in many areas.
The Case-Shiller Home Price Index posted a 5.2% annual bump in October. But some feel that price appreciation is stabilizing. The chief economist at a listing site noted, "The U.S. housing market as a whole made great progress in 2015...to a more stable and sustainable environment." Freddie Mac's Multi-Indicator Market Index (MiMi) posted its best annual gain in a year and a half. Their deputy chief economist predicts for 2016: "While mortgage rates will rise modestly, they will still remain at historically low levels. Combined with stronger job and income growth, the net result may be strong growth in household formation, construction, and home sales."
BUSINESS TIP OF THE WEEK... Always try to exceed expectations with clients. Put their needs and goals above all others, then do everything you can do to help reach them.
INFO THAT HITS US WHERE WE LIVE ... To stay focused on the day is a pretty useful piece of advice, since that's where progress is made. Progress, however, seemed elusive in last week's Pending Home Sales number, which declined slightly in November. Yet this National Association of Realtors (NAR) index of contracts signed on existing homes was still a decent 2.7% ahead of where it was a year ago. Plus, we've now seen year-over-year gains in pending home sales for 15 months in a row. True, there's been a modestly slowing trend since the index peaked at a nine-year high last May, but the housing market remains constrained by tight inventory levels in many areas.
The Case-Shiller Home Price Index posted a 5.2% annual bump in October. But some feel that price appreciation is stabilizing. The chief economist at a listing site noted, "The U.S. housing market as a whole made great progress in 2015...to a more stable and sustainable environment." Freddie Mac's Multi-Indicator Market Index (MiMi) posted its best annual gain in a year and a half. Their deputy chief economist predicts for 2016: "While mortgage rates will rise modestly, they will still remain at historically low levels. Combined with stronger job and income growth, the net result may be strong growth in household formation, construction, and home sales."
BUSINESS TIP OF THE WEEK... Always try to exceed expectations with clients. Put their needs and goals above all others, then do everything you can do to help reach them.
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