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QUOTE OF THE WEEK... "From there to here, and here to there, funny things
are everywhere." --Dr. Seuss (Theodor Seuss Geisel), American writer
and illustrator
INFO THAT HITS US WHERE WE LIVE ... Funny things certainly are occurring everywhere in the housing market. Last week began with the news that New Home Sales dipped 1.5% in March. But sales were up in the Midwest and the South, level in the Northeast, only slipped in the West, and overall, new single-family home sales are up 5.4% over a year ago. Plus, this report doesn't count sales of multifamily units: urban condos, for example. Monthly data of course is volatile, so we have to look at the trend and that stays positive. Jobs and wages are picking up, if ever so slowly, and that's putting a new home within the reach of more people.
The National Association of Realtors (NAR) Pending Home Sales index shot up in March to its highest level in seven months. This measure of contracts signed on existing homes gained for the second month in a row. The NAR's chief economist felt this signals a solid beginning to the spring buying season: "Despite supply deficiencies in plenty of areas, contract activity was fairly strong in a majority of markets in March." And the trend here is terrific. Pending home sales have grown year-over-year 19 months in a row. It was especially nice to see strength in the Northeast and the Midwest. Finally, the Case-Shiller home price index is up 5.4% from a year ago.
BUSINESS TIP OF THE WEEK... Perfectionism is a liability. The time it takes to get every detail perfect slows you down. Focus on doing the high-priority, high-impact items right, then just get the rest of the job done.
INFO THAT HITS US WHERE WE LIVE ... Funny things certainly are occurring everywhere in the housing market. Last week began with the news that New Home Sales dipped 1.5% in March. But sales were up in the Midwest and the South, level in the Northeast, only slipped in the West, and overall, new single-family home sales are up 5.4% over a year ago. Plus, this report doesn't count sales of multifamily units: urban condos, for example. Monthly data of course is volatile, so we have to look at the trend and that stays positive. Jobs and wages are picking up, if ever so slowly, and that's putting a new home within the reach of more people.
The National Association of Realtors (NAR) Pending Home Sales index shot up in March to its highest level in seven months. This measure of contracts signed on existing homes gained for the second month in a row. The NAR's chief economist felt this signals a solid beginning to the spring buying season: "Despite supply deficiencies in plenty of areas, contract activity was fairly strong in a majority of markets in March." And the trend here is terrific. Pending home sales have grown year-over-year 19 months in a row. It was especially nice to see strength in the Northeast and the Midwest. Finally, the Case-Shiller home price index is up 5.4% from a year ago.
BUSINESS TIP OF THE WEEK... Perfectionism is a liability. The time it takes to get every detail perfect slows you down. Focus on doing the high-priority, high-impact items right, then just get the rest of the job done.
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