Sullivan Team

US Housing Starts Are Up 7.4% from May and 5.1% From Year Earlier

The U.S. Census Bureau and the Department of Housing and Urban Development said:

Building permits were issued at a seasonally adjusted annual rate of 1,254,000 units. 

This is a 7.4 percent jump from the May rate of 1,168,000.

June permits were issued at a 5.1 percent higher pace than a year earlier.

  

 For full article -    http://www.mortgagenewsdaily.com/07192017_housing_starts.asp

 

 

July 2017 Essex County Housing Report

To view data for every Essex County town, go to http://www.sullivanteam.com/Properties/Reports/Public/Charts.php

To download this Housing Report go to: http://www.sullivanteam.com/pages/EssexCountyHousingReports

 

 

1st Quarter 2017 GDP Revised Upward To 1.4%

The U.S. economic expansion remains on track as it prepares to enter its ninth year.  
 
Gross domestic product, a broad measure of the goods and services produced across the U.S. economy, expanded at a seasonally and inflation-adjusted annual rate of 1.4% in the first quarter, the Commerce Department reported Thursday
 
 
Growing Slightly Faster
First-quarter GDP, initially reported at an anemic 0.7%, has been revised up in subsequentmonths and now stands at 1.4%.

Macroeconomic Advisers on Thursday projected a 3.3% GDP growth rate for the spring quarter and the Federal Reserve Bank of Atlanta’s GDPNow model earlier this week predicted 2.9% growth. ...

… the current expansion has been disappointingly weak, with GDP growth averaging just 2.1% a year.  That is weaker than any other recovery since at least 1949. Still, the unemployment rate has continued to decline, hitting 4.3% in May—its lowest level in 16 years. For

Full Article Go To https://goo.gl/33wgQT

NAR Home Sales Report 6-23-2017

  • Existing home sales at third highest level this year.
  • Inventory of homes for sale has dropped 8.4% since last year, marking the 24th consecutive month of year-over-year declines.
  • NAR’s Chief Economist, Lawrence Yun had this to say: "Listings in the affordable price range are scarce, homes are coming off the market at an extremely fast pace and the prevalence of multiple offers in some markets are pushing prices higher.”

 

https://www.keepingcurrentmatters.com/?p=2057241

 

The Cost To Buy VS Rent June 2017

https://goo.gl/VvX9Ny

 

Top Home Renovations for Maximum ROI

 

https://goo.gl/Z56iTA

 

Homes Selling Fast Across The Country

Mortgage Rates at 2017 Low, 4.08% for 30 Year Fixed :-)

Mortgage Rates at 2017 Lows - 4.08 for 30 Year Fixed - Fed Still Talking 2 More Rate Increases This Year

 

 

 

Buyer Demand Exceeds Supply of Homes


 

Some Highlights:

  • The concept of Supply & Demand is a simple one. The best time to sell something is when the supply of that item is low & the demand for that item is high!
  • Anything under a 6-month supply is a Seller’s Market!
  • There has not been a 6-months inventory supply since August 2012!
  • Buyer Demand continues to outpace Seller Supply!

https://goo.gl/aUhgQr 

Don't Let Your Luck Run Out