News

Existing-home sales rise 7.8%

BY Ken Clark

Existing-home sales continued to improve in August, according to the National Association of Realtors. 

"The housing market is steadily recovering with consistent increases in both home sales and median prices,” said Lawrence Yun, NAR chief economist. “More buyers are taking advantage of excellent housing affordability conditions.” 

The NAR’s tally shows existing-home sales in August increased to a seasonally adjusted annual rate of 4.82 million, up 7.8% from 4.47 million in July. Compared with a year ago, the rate of sales is up 9.3%.

Total existing-home sales are defined as completed transactions that include single-family homes, townhomes, condominiums and co-ops. 

Also from the NAR report, the national median price rose on a year-over-year basis for the sixth straight month. The national median existing-home price for all housing types was $187,400 in August, up 9.5% from a year ago. 

The last time there were six back-to-back monthly price increases from a year earlier was from December 2005 to May 2006. 

Yun added that markets in the West and Florida are experiencing inventory shortages, pushing home prices up.

NAR President Moe Veissi , broker-owner of Veissi & Associates Inc., in Miami, said some buyers are involuntarily sidelined. "Total sales this year will be 8% to 10% above 2011, but some buyers are frustrated with mortgage availability. If most of the financially qualified buyers could obtain financing, home sales would be about 10% to 15% stronger, and the related economic activity would create several hundred thousand jobs over the period of a year."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

How much credit should be given to the co-op business model for the success of the independent hardware and building supply dealer over the last half century?
News

The challenge of collecting consumer information

BY HBSDEALER Staff

Consumers continue to be cautious about sharing their personal information, according to an online survey conducted by LoyaltyOne, a global provider of coalition loyalty, customer analytics and loyalty services.

Among 1,000 respondents surveyed, LoyaltyOne found that 78% of them do not feel they receive any benefit at all from sharing information, up from 74% in 2011; less than half feel that companies use their personal data to better serve the consumer, an 11% slip from 2011; and 62% said they would share more personal data if it meant receiving relevant product and service offers, down from 66% in 2011.

"These responses point to an unmistakable trend. Marketers’ efforts to create relevant customer experiences through data need to be re-addressed or they run the risk of their efforts not resonating with customers," LoyaltyOne president Bryan Pearson said. "Consumers are disappointed. For years they’ve provided their valuable information and they’re not realizing something of suitable worth in return. If businesses don’t act quickly to demonstrate they have the consumer’s best interest at heart, they risk an erosion of the business-to-consumer relationship." 

The survery also found that only 50% said they’d be willing to give a trusted company their religious affiliation, followed by their political affiliation and sexual orientation (both 49%), health information (36%), mental health information (26%), browsing history (24%) and smartphone location and number of sexual partners (tied at 15% each). Last on the list was their social security number (11%). 

For detailed results of the report, click here.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

How much credit should be given to the co-op business model for the success of the independent hardware and building supply dealer over the last half century?
News

Rolling Stones keyboardist weighs in on LEED

BY Brae Canlen

Almost everyone seems to have an opinion on which wood certifications should be accepted by the U.S. Green Building Council under its LEED rating system. One voice that recently emerged from the vox populi was Chuck Leavell, keyboardist for The Rolling Stones, who published a piece in Mother Nature Network praising Georgia Gov. Nathan Deal for expanding green building credits to include several wood certification systems.

“It’s time that SFI- and ATFS-certified lands get the recognition they deserve,” wrote Leavell, who owns and manages an ATFS-certified tree plantation near Macon, Ga. After making many of the familiar arguments against the current LEED standard, which recognizes only FSC-certified wood, Leavell urged the U.S. Green Building Council to be more inclusive during its current review of its LEED standards.

“Although LEED is making improvements that would allow more consideration and recognition of the environmental benefits of wood, much more needs to happen before the rest of these forest certification standards are fully integrated into LEED’s standards,” Leavell wrote.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

How much credit should be given to the co-op business model for the success of the independent hardware and building supply dealer over the last half century?