Pending Home Sales Jump Higher Than Expected
Played golf a couple of weeks ago with a couple of my builder friends that are still building and we commented on its been too long since we last played. We all looked at each other and almost simultaneously said the same thing, “Man I’m Busy.”
According to Fox News
Pending sales of previously owned U.S. homes rose more than expected in May, a trade group said on Wednesday, but a glut of unsold properties remains a drag on the housing market.
The National Association of Realtors‘ Pending Home Sales Index increased 8.2 percent to 88.8, bouncing back from April’s seven-month low. Pending homes sales lead existing homes sales by a month or two.
Economists had expected home resale contracts to rise only 3.8 percent after a previously reported 11.6 percent drop.
Pending home sales increased in all four regions, with the Midwest and West notching double-digit gains.
In the 12 months to May, pending home sales rose 13.4 percent.
Read more: http://www.foxbusiness.com/industries/2011/06/29/pending-home-sales-jump-in-may/#ixzz1QgR6Q8yT
I used the phrase “There is a whole lotta want right now,” last year in an interview for the Charlotte Observer. I’ve been saying it ever since, but with no real results to measure the validity of that statement.
The news of real estate sales in the attached link to Fox News may be the first real sign I have seen that validates my statement. I still think the mechanics of the banks and the economy will keep out numbers more flatlined for the foreseeable future.
Going back to the golfing story, we all felt like a decent turn for the better was surely around the corner. I recently have sold five homes, another three, and the vendor salesman had seen bids rise nearly 45%.
Construction has always been the first tell tale sign of a recovery. Not saying were there yet, but certainly good signs like this put a smile on our faces.
Thanks for reading,
Eric
NAHB Poll on voters view on government assistance to housing
Again, thanks for reading. NAHB has conducted an interesting independent Poll on what voters want to see with the Government’s assistance. I am not a proponent for government intervention, however some times it makes sense. Apparently I am not alone according to this Poll. 
Its good see that Americans still view their home as a top investment and major emotional component in the fabric of their lives.
This is an article via House Logic.
Voters Strongly Pro-Housing, Pro-Mortgage Interest Deduction
June 15, 2011
Nearly three out of four American voters believe that it is reasonable and appropriate for the federal government to provide tax incentives to promote home ownership, a sentiment that cuts across partisan and regional lines across the country, according to a National Association of Home Builders poll.
And, an overwhelming majority of respondents oppose eliminating the mortgage interest deduction and would be less likely to support a candidate for Congress who wants to do away with this vital tax incentive, the survey says.
“Despite the current housing downturn, Americans still see home ownership as a core value and a key building block of being in the middle class and creating strong jobs in their communities,” said Celinda Lake, president of Lake Research Partners, which conducted the survey for NAHB. “The bottom line: The bipartisan consensus outside the Beltway is that owning a home remains an essential part of the American Dream and voters would strongly oppose any efforts by lawmakers to increase barriers to home ownershipship.”
Among the poll’s key findings:
- 73% of all respondents — both owners and renters — believe the federal government should provide tax incentives to promote home ownership. This support for housing runs strong among all party affiliations, with 79% of Democrats, 71% of Republicans, and 68% of Independents agreeing with this statement.
- 71% of voters oppose proposals to eliminate the mortgage interest deduction, and 63% oppose efforts to reduce it. A majority are also against eliminating the deduction for interest paid on home equity loans, ending the deduction for interest paid on a second home, limiting the deduction for those earning more than $250,000 per year, or capping the deduction for home owners with mortgages over $500,000.
- By a more than a two-to-one margin (57% to 26%), voters said they would be less likely to vote for a candidate who supports eliminating the mortgage interest deduction. These figures held firm across the political spectrum, with 63% of Republicans, 56% of Independents, 55% of Democrats, and 61% of tea party supporters saying they would be less likely to support a candidate who favored killing the deduction.
- Even when told that getting rid of the mortgage interest deduction would help ease the federal budget deficit, 65% of voters opposed any proposal to abolish the housing tax provision. This strong consensus cuts across partisan lines, with 69% of Republicans, 69% of Independents and 59% of Democrats opposing eliminating the deduction.
Saving for a downpayment and closing costs is the biggest barrier to home ownership.
Six federal agencies are proposing a national standard to require a minimum 20% downpayment, which would be opposed by households most likely to be affected — mortgage holders and renters ages 18 to 54. Among voters in these age groups, 59% of renters and 58% of those holding a mortgage oppose adding that obstacle to buying a home.
The polling data also shows:
- 81% of voters agree on the need to promote policies that encourage home ownership in order to rebuild the middle class, and 83% believe that a strong housing industry will provide more jobs and strengthen the economic health of local communities.
- 75% of voters say that owning a home is the best long-term investment they can make.
- 73% of voters who do not now own a home say it is a goal of theirs to eventually buy a home.
- An even greater percentage of home owners — 95% — say they are happy with their decision to own a home, and believe that owning their own home is important.
Source: NAHB
Our Newest Pointe Regatta Plans have Arrived
- At June 11, 2011
- By qualitycustomhomes
- In Home Plans
0
Pointe Regatta is a unique waterfront community in Cornelius, NC. This gated community boasts some of Lake Norman’s finest long ranging water views and Sunsets.
These new plans are from the Moser Design Group. These Southern Coastal plans are perfect to take advantage of these beautiful waterfront and waterview lots. Priced from the $300′s.
Second story porches, large overhangs, warm coastal colors, low maintenance exteriors and authentic detailing are the hallmarks of these fine homes.
The interiors are expertly designed for size, function, and budget. With a wide range of square footages you can pick out what is just right for you. Either main level masters or master up are available. Two or three car garages. Large custom designed kitchens, subway tile, granite countertops, hardwood floors all with open floor plans. Let us help you pick out the features you want and that fit your budget.
There are only 13 lots, 7 waterview & 6 waterfront, and 2 are gone already so act today and get one of the last great waterfront lots left act Exit 28/Cornelius just minutes from Charlotte.
Welcome to the New ES Johnson Builders Website
- At May 31, 2011
- By admin
- In E.S. Johnson Happenings
- 0
Outdoor Living in the Best in American Living Award Home In Springfield
Thank You for logging into our website. Our new website is being updated and should be on-line shortly. We apologize for any inconvenience, but the new site will be more comprehensive and easier to use.
Don’t hesitate to call us at 704-634-5704.
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