Inside Lending Newsletter From Kristen Zorda – Level of Spending Growing
QUOTE OF THE WEEK… “It is good news, worthy of all acceptation; and yet not too good to be true.” –Matthew Henry, English Presbyterian minister
INFO THAT HITS US WHERE WE LIVE… There were several items of good news in the real estate market last week starting with a Census Bureau report on construction. Despite all the yack about winter weather slowing things down, it turns out construction spending during the first four months of the year was 8.9% above the same period in 2013. The $274.5 billion worth of activity was good news indeed. This level of spending appears to be growing, as the ADP Employment Report showed the construction industry adding 14,000 jobs in May.
Other good news included the research data that demand for purchase mortgages in the last three months gained a cumulative 9%. On the pricing front, a national listing site said prices are beginning to stabilize. Their chief economist explained: “…home price changes are looking more balanced, sustainable and widespread than at any point since the price recovery began.” With home prices still rising, but in a more controlled fashion, there are now more than 43 million homes with equity. This should encourage more people to put their properties on the market, improving the inventory situation.
BUSINESS TIP OF THE WEEK… Take a technology break at least once a week. Turn off all technology for three to four hours and focus on something important. Finish an existing project, start a new one, or call all your best referral sources.
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
Connect with me…..
Cell: 1 (518) 588-2319 ~ Fax: 1(866) 588-6066