Inside Lending Newsletter From Kristen Zorda

QUOTE OF THE WEEK… “One who stops being better stops being good.” –Oliver Cromwell, English military and political leader

INFO THAT HITS US WHERE WE LIVE…  Last week, we who work in the housing market were given more opportunity to be better, as February Housing Starts dipped 0.2%, to an annual rate of 907,000 units. But wait, as they say on the infomercials,  all the dip came from multi-family units. Single-family starts were actually UP 0.3%. With the ground frozen or snow covered in much of the country, builders still stayed busy inside. As evidence, completions shot up 4.4% in February and are up 21.9% over a year ago. Anticipating a good spring, builders pushed Building Permits up 7.7% in February.

The 4-month moving average for Housing Starts is the highest since July 2008. Some economists feel the underlying trend for home building is upward and should remain that way for a couple of years. February, however, saw Existing Home Sales dip 0.4%, to a 4.60 million annual rate. But these closings came from contracts signed when harsh weather was slowing many markets. A lack of inventory has also been sending buyers to new homes. But median prices are up 9.1% annually, encouraging more sellers to list, and inventories were up 120,000 units in February, so existing home sales should rebound in March and April.

Kristen Zorda
Loan Officer
NMLS# 58751
648 Plank Rd. Suite 203
Clifton Park NY 12065
Office: 518-366-7999
PrimeLending, a PlainsCapital Company

 

Orson B.Klender,  Associate Broker

Keller Williams Realty Saratoga Springs
38 High Rock Ave, Saratoga Springs, NY 12866

www.RealEstateSaleSaratogaSpringsNY.com

www.OrsonKlender.com

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Cell: 1 (518) 588-2319 ~ Fax: 1(866) 588-6066

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About Real Estate Agent in Saratoga Springs

As an agent who's an expert in this local area, I bring a wealth of knowledge and expertise about buying and selling real estate here. It's not the same everywhere, so you need someone you can trust for up-to-date information. I am eager to serve you.

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