Info That Hits Us Where We Live-Median Price Rose in Nov.
QUOTE OF THE WEEK… “One never notices what has been done; one can only see what remains to be done.” –Marie Curie, Polish and naturalized-French physicist and chemist
INFO THAT HITS US WHERE WE LIVE… The woman who discovered radioactivity and twice won a Nobel prize, prompts us to notice what’s been done so far in the new home market. Sales volume came in at an annual rate of 464,000 in November. This was only a 2.1% slip from October’s five-year high, so most of those gains were retained in November, and this beat consensus expectations. Many observers see continued momentum in new home sales, as the median price rose again in November and is now up 10.6% from a year ago. Inventory is down to a 4.3 months’ supply.
Of course, a lot remains to be done. The annual sales rate is still below the 700,000 pace economists say indicates a more healthy new home market. Yet builders feel positive. The chairman of the National Association of Home Builders commented, “NAHB’s member surveys…show increasing confidence.” Good news for the overall housing market came from the incoming Federal Housing Finance Agency Director. He said that he will postpone the fee hikes Fannie Mae and Freddie Mac had planned for mortgages they back. Those fees would have increased the costs of conventional loans.
BUSINESS TIP OF THE WEEK… If you want innovation, don’t try to come up with an idea out of thin air. Instead, just find a problem to solve. Every product and service younow use was originally created to solve a problem.
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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