Saratoga Springs, NY – Info That Hits Us Where We Live – Market Information
QUOTE OF THE WEEK… “Perseverance is the hard work you do after you get tired of doing the hard work you already did.” –Newt Gingrich
INFO THAT HITS US WHERE WE LIVE… Even though the housing recovery is well underway, there still is evidence that more hard work needs to be done. Last week began with March Existing Home Sales off 0.6%, dropping to an annual rate of 4.92 million units. In addition, the months’ supply of existing homes edged up to 4.7 from 4.6 in February. But even though existing home sales seem to have leveled off in the last few months, they’re actually UP 10.3% versus a year ago. It’s also encouraging to note that the median existing home price, at $184,300, is up 11.8% over last year.
To further inspire us, March New Home Sales came in Tuesday up 1.5%, to a better than expected 417,000 annual rate. New home sales are now up 18.5% over a year ago, and Q1 of 2013 was the best quarter for new home sales since Q3 of 2008!The months’ supply of new homes remained at 4.4, as the faster sales pace was offset by a rise in inventory of 3,000 units. The median price of new homes sold, at $247,000, is up 3.0% over a year ago. Finally, the FHFA index of prices for homes financed by conforming mortgages was up 0.7% in February and up 7.1% versus a year ago.
BUSINESS TIP OF THE WEEK… Don’t be afraid to take small risks. Just spend the time to test things out. And trust your gut. Often our gut instincts lead the way to the success we’ve been looking for.
648 Plank Rd. Suite 203
Clifton Park NY 12065
Orson B.Klender, Associate Broker
Keller Williams Realty Saratoga Springs
38 High Rock Ave, Saratoga Springs, NY 12866
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Cell: 1 (518) 588-2319 ~ Fax: 1(866) 588-6066