Info That Hits Us Where We Live – Impressive New Home Sales Numbers
QUOTE OF THE WEEK… “We don’t know who we are until we see what we can do.” –Martha Grimes, American writer
INFO THAT HITS US WHERE WE LIVE… Last week we saw that the housing market can put up some pretty impressive New Home Sales numbers. Sales of new single-family homes shot up in October by 25.4% over September to a seasonally adjusted annual rate of 444,000. This put new home sales up 21.6% versus a year ago. One research firm pointed out that these numbers provide evidence that the edging up of mortgage rates has not seriously hurt the housing recovery.
These analysts noted that October New Home Sales are about equal to those recorded from January to June this year, in spite of the fact that average mortgage rates had drifted up a bit. In fact, the 12-month moving average for new home sales is now at its highest level since March 2009. Inventory is up 25.5% over a year ago, giving buyers more choice, but the faster sales pace dropped the months’ supply to 4.9. For the past 20 years, the average supply of new homes has been 5.7 months.
BUSINESS TIP OF THE WEEK… To improve your creativity and mental performance, a study has found that exercise helps. Writers like Henry David Thoreau, Henry James, and Thomas Mann apparently knew this. They all liked a brisk walk before starting work.
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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