Thursday, 14 April 2016

Why Were Fewer Existing Homes Sold in February?

Fewer homes were sold last month as the lack of properties bearing those familiar “For Sale” signs continued to keep prices high.

Sales dropped 7.1% from January to a total seasonally adjusted 5.08 million, according to a recent report from the National Association of Realtors®. But they were still up 2.2% from a year earlier. The report looked only at existing homes, which are not newly constructed residences.

“It’s definitely a loss of momentum,” says Javier Vivas, an economic researcher®. “But it’s certainly not something to panic about.”
He blames the snow in the Northeast, the bumpy stock market, and the slightly shorter month (although less short than usual, thanks to leap year) for the declines.

“Demand is there. We don’t see any signs of it slowing down,” Vivas says. But “we don’t really seem to have any escape from the lack of affordable homes.”
The median price of an Existing Home was $210,800 in February—a nearly 1.4% decline from January. (Woohoo for buyers!) But the sticker price was still up 4.4% from a year ago.

Mountain View

The majority of homes, 44.6%, that sold last month were in the $100,000 to $250,000 range. That was followed by 28.4% of homes costing a cool $250,000 to $500,000.

Those eager to own the deed to their own kingdom are holding off until they can find residences within their price range, Vivas says.

But he is confident sales will pick up in March as spring gets underway.
“Typically, February is one of the slowest times of the year,” Vivas says, attributing that to the slush and freezing temperatures that usually dominate much of the country at this time.

But Vivas is worried that investors are beginning to drive up prices on the affordable end of the market, which, in turn, keeps more people renting.
NAR noted that more individual Investors are buying up properties, making up 18% of sales, up from 17% a month earlier, according to the report. And nearly two-thirds, 64%, pay cash—something few first-time buyers bidding on the same abodes can do.

“They’re basically forcing buyers to rent,” Vivas says.
More bad news: Sales of existing homes sank the most in the chilly Northeast and Midwest, according to the report.

In the Northeast, they fell a mighty 17.1% from January, to 630,000. But sales were still up 5% from the previous February—and the median price dipped 0.8% over that same period, to $239,700.

“We have a severe lack of homes” for sale, says Maria Brogan, CEO of the Northeast Association of Realtors, which represents 15 small cities and towns in Massachusetts. “There’s just not a lot of selection.”
That’s causing homeowners eager to trade up into bigger abodes from planting a “For Sale” sign in their yards as they’re afraid they won’t be able to find another place.

She believes the demand is a result of the economy improving, signaling to aspiring homeowners that this would be a good time to buy. But these same individuals are cautious and don’t want to blow all of their savings on super-expensive residences.

“A lot of the smaller, single-family homes are in demand,” Brogan says. “That’s what’s affordable to them without being too much of a [financial] burden to maintain.”

In the Midwest, existing-home sales also fell 13.8% month over month. But the number of homes sold, 1.12 million, was the same as a year earlier. The median price was $162,700, up 6.3% from the previous February.

Sales fell in the West by 3.4%, to 1.13 million, but they’re up 0.9% from last year. The median price was $308,800—a 7% bump from a year earlier.
In the South, sales were down 1.8%, to 2.2 million. That’s still 3.3% higher than February 2015. The median price was up 5% year over year, to $186,400.

Thursday, 28 January 2016

Chris Collins Dacula ga | Five Tips For Home Construction for First-Time Builders

 Building your very first home is an interesting moment.Whether you've invested years in an residence or rented a home for a while, developing your home allows you to lastly have your say in what you want. Choices like floor plan, electricity, equipment, and much more are all centered on your requirements.

Chris Collins Dacula ga Construction and Reconstruction in USA is excited to provide these home construction ideas for first-time home constructors as they embark on a milestone journey in their lifestyles.


Doing your analysis and planning in progress is key when developing your first home. A home is a large investment and needs lots of sources from planning to development to repairs. When developing your first home, Chris Collins Dacula gait's OK if you don't know almost everything. You will come throughout shocks at every corner with home construction. To help you in the process, trusted home contractors have the experience necessary to make the method as easy as possible. They've helped numerous first-time builders like you build the home of their goals with as few headaches as achievable.


Although home construction has fought across the country for a few years, the one regular in continued growth is the city. It's increasing economy in the energy, healthcare and other professional fields is attracting thousands of new citizens every year. It leads the nation in new developing permits in some of America's best suburban areas. As the economy rebounds, new homes are starting to increase in price, so taking benefits of this limited window is key. A reliable home builder in Houston will help first-time contractors in identifying which community is best based on their needs.


Summers get hot and winter seasons can be cool. When preparation home construction, make sure you apply energy-efficient technology to keep your home effectively heated without paying fortune on AC or electricity bills. Water-saving technologies also help in maintaining your water and utility bills down during peak usage. Building a home that meets the strict Energy Star requirements ensures your home meets the latest energy-efficiency specifications and adds great resale value to your home later down the road.


Speaking of resale value, Houston is a great market for home sales. With a currently low supply of homes, homes are in great demand as the city of Houston keeps growing at a record rate. Even if you are looking to live permanently in your home and you never plan on moving anywhere else, keep in mind homes in Houston carry great resale value and could present an opportunity you can't resist. Trusted home builders know the trends people are looking for in homes today and could help you in deciding which suits you while adding resale value.


When deciding on where to build your first home in Houston, figure out the benefits on your location. Will you be close to work? Close to your child's school? Near family members? In short distance to entertainment and fun activities? By prioritizing what your living factors into needs, wants, and would-be-nice, you can save precious resources and not get overwhelmed with the building process. Houston's various neighborhoods all offer distinctive features with many sure to be ideal choices for you.