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Housing stats this week!

January 28, 2012

QUOTE OF THE WEEK…”Happiness is not a state to arrive at, but a manner of traveling.” –Margaret Lee Runbeck

INFO THAT HITS US WHERE WE LIVE…Well, we can all make our way with a bit of a smile on our faces, courtesy of the latest Housing Starts numbers. At first blush, the December report seemed disappointing, down 4% for the month. But starts overall are UP 24.9% from a year ago and December’s drop was all from multi-family starts, very volatile month-to-month. Single-family starts were UP 4.4% for the month and UP 11.6% for the year. No wonder the National Association of Home Builders confidence index went to 25, its highest reading since 2007.

For those who still couldn’t put on a happy face, Friday’s data should have done the trick. Existing Home Sales were UP 5% in December, their third consecutive gain, to their highest level since January 2011. The inventory of existing homes is down 21% from last year and the months’ supply dropped to 6.2, the lowest level since April 2006. For all of 2011, sales of single-family homes, townhomes, condos and co-ops rose 1.7%, to 4.26 million units.

BUSINESS TIP OF THE WEEK… There are so many variables in business, you can’t know exactly how you will reach your goal. So what matters most is your determination to get there.

Courtesy of
George Hager at Prime Lending
Mortgage Loan Officer
4 Venture #100
Irvine, CA 92618
714.309.5665 | P
877.895.1813 | F

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