Saratoga Springs, NY – INFO THAT HITS US WHERE WE LIVE – Home Sales Up!
QUOTE OF THE WEEK… “In order to succeed, we must first believe that we can.” –Michael Korda, American writer, novelist, and editor
INFO THAT HITS US WHERE WE LIVE… There appears to be plenty of real estate people who believe they can succeed, as last week saw more housing numbers go through the roof. Existing Home Sales were up 4.2% in May to a 5.18 million unit annual rate, up 12.9% over a year ago. The median price climbed to $208,000, up 15.4% over a year ago, while average prices are up 11.2% over last year. The months’ supply dipped to 5.1, all due to the faster sales pace, as inventories were up 7,000, increasing four months in a row. And the median time on the market for all homes was 41 days, down from 72 days a year ago.
Housing Starts were up 6.8% in May. Although most of the gain came from multi-family units, single-family starts were also up for the month and are now up 16.3% versus last year. The total number of homes under construction has been up 21 months in a row. Looking at where starts may be a few months out, Building Permits in May dipped a bit overall, but single-family permits were up for the month and are up 24.6% versus last year. Not surprisingly, the NAHB index of home builder confidence went from 44 to 52, its highest level since March 2006 and its biggest monthly gain in over 10 years.
BUSINESS TIP OF THE WEEK… After you’ve powered through work for a few hours, give your mind a rest. Go for a walk, have a snack, work out, or just sit quietly. You actually get more done in a day by regularly taking time to clear your head.
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