Info That Hits Us Where We Live, Saratoga Springs, NY
QUOTE OF THE WEEK… “Energy and persistence conquer all things.”–Benjamin Franklin
INFO THAT HITS US WHERE WE LIVE… All who work in the housing market, from realtors to builders to lenders, have certainly shown energy and persistence. Although we’re now in recovery, it’s at a slow pace, so those qualities are still needed to keep things moving along. But the signs are encouraging, as January Existing Home Sales were up a tick to an annual rate just under 5 million units. Sales are up 9.1% from a year ago, the median price of an existing home is up 12.3% versus a year ago, and the supply is now down to 4.2 months.
Housing Starts were down 8.5% in January, but, remember, they shot up 15.7% in December. They’re still running at a not bad 890,000 unit annual rate. Also, the January drop was all due to the volatile multi-family sector, as single-family starts were at their highest level since 2008, up 20% from a year ago. Builders are optimistic, as building permits went up 1.8% in January and are now up 35% from a year ago. Fannie Mae’s monthly economic outlook reported that home price growth and the increase in home building suggest that housing is “on a sustained growth path.” Gotta love that word “sustained.”
BUSINESS TIP OF THE WEEK… Successful people love what they do, trust their intuition, and are good at finding solutions. Once they understand a problem, they revel in using their intellect, inspiration, and observations to solve it.
648 Plank Rd. Suite 203
Clifton Park NY 12065
Orson Klender, Licensed Associate Broker; Keller Williams Real Estate
Focusing On Your Needs Is The Key To Our Success!