Positive Pending Homes Sales Data Comes With Caveat

Home / Daily Dose / Positive Pending Homes Sales Data Comes With Caveat Positive Pending Homes Sales Data Comes With Caveat The Best Markets For Residential Property Investors 2 days ago  Print This Post About Author: Xhevrije West Data Provider Black Knight to Acquire Top of Mind 2 days ago Existing-home sales suffered last month due to the continuous imbalance of extremely low inventory levels and rapid home price appreciation.The NAR reported that existing-home sales decreased 7.1 percent to a seasonally adjusted annual rate of 5.08 million in February from 5.47 million in January. However, the report noted that despite last month’s large decline, sales remain 2.2 percent higher than a year ago. Existing-home sales do not appear to be slowing down home prices appreciation. According to the NAR, the median existing-home price in February was $210,800, up 4.4 percent from last February’s median price of $201,900. This marks the 48th consecutive month of year-over-year gains.”Any further moderation in prices would be a welcome development this spring,” Yun stated. “Particularly in the West, where it appears a segment of would-be buyers are becoming wary of high asking prices and stiff competition.”The NAR expects existing-homes sales this year to be around 5.38 million, up 2.4 percent from 2015. The national median existing-home price for all of this year is expected to increase between 4 and 5 percent.Chief Economist of Realtor.com, Jonathan Smoke noted, “Low inventories and tight credit will limit the gains we will see in 2016. However, given the level of pent-up demand evident in web activity and stated buyer intentions for 2016, we should see this spring materialize as the busiest season of sales since 2006.”Click here to view the full pending home sales report released Monday. Previous: Digging Deeper Into the Declining Homeownership Rate Next: DS News Webcast: Tuesday 3/29/2016 Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Share Save Related Articles Mortgage contract signings began 2016 on a low note, falling to their lowest level in a year after hitting its highest average year in nearly a decade due to two pressing factors that are keeping buyers out of the market: inventory and home prices.However, despite the rough start to the year, pending home sales recently rose to their highest level in seven months and are still higher than a year ago.The National Association of Realtors (NAR) reported Monday that its Pending Home Sales Index rose 3.5 percent to 109.1 in February from a downwardly revised 105.4 in January and is now up 0.7 percent from 108.3 in February 2015.The NAR noted that although the index has now increased year-over-year for 18 consecutive months, the annual gain last month was the smallest.NAR Chief Economist Lawrence Yun said, “After some volatility this winter, the latest data is encouraging in that a decent number of buyers signed contracts last month, lured by mortgage rates dipping to their lowest levels in nearly a year and a modest, seasonal uptick in inventory. Looking ahead, the key for sustained momentum and more sales than last spring is a continuous stream of new listings quickly replacing what’s being scooped up by a growing pool of buyers. Without adequate supply, sales will likely plateau.”Collingwood Managing Director Thomas Cronin said of the pending home sales report, “It seems that the key here, is the fact that this is the 18th straight month of improvement. Yes, we could use more supply, yes, we could use more new construction at the lower end yes, we would like rates to remain low. But at the end of the day, this has been a solid performance.”Ten-X Chief Marketing Officer Rick Sharga was among the housing experts who were more cautious about celebrating the pending home sales report or calling it a comeback, saying “The year-over-year number is the one to pay attention to. Last year, March home sales fell,off dramatically after a very strong February. With pending home sales up a scant 0.7 percent from last year, it seems like March existing home sales may not give us much to get excited about.”Sharga continued, “The dramatic increase in pending home sales from January to February probably has more to do with January numbers being extremely low (and revised downward for this report), and some delays in contract execution due to bad weather in the Northeast and Midwest, which both had significant month-over-month gains.”Source: National Association of Home Builders Demand Propels Home Prices Upward 2 days ago Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Housing Inventory Housing Supply National Association of Realtors Pending Home Sales Ten-X Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Housing Inventory Housing Supply National Association of Realtors Pending Home Sales Ten-X 2016-03-28 Brian Honea March 28, 2016 9,486 Views Subscribe read more

A Snapshot of the Housing Market in 2019

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: New Jersey Aims to Help Homeowners Facing Foreclosure Next: Economy Gets an Upgrade, Despite Housing Drag A Snapshot of the Housing Market in 2019 in Daily Dose, Featured, Market Studies, News August 15, 2018 5,939 Views Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago The headwinds that troubled the housing market for most of the first half of 2018 are likely to continue into the third quarter, according to an analysis by Metrostudy.During a webcast on Wednesday, Mark Boud, Chief Economist at Metrostudy gave an overview on the state of the housing market in Q3 and beyond.Speaking of the rising impact of tariffs on the construction industry, Boud said that the rising tariffs were leading to increasing in construction timelines. “Overall trade used to be about 10 percent of GDP, but now it is closer to 30 percent so over the decade the impact of trade and the impact of tariffs on trade tend to increase as our reliance on trade increases. A lot of these tariffs were directed towards the construction industry,” Boyd said. “Tariffs hurt the economy, especially the new home industry.”Outlining macro trends that were already impacting or likely to impact the housing industry, Boud said that while tax reform had hurt some of the high priced markets, rising inflation was another concern that was likely to slow economic growth. However, he pointed out to the strong jobs data that remained solid in August and said that was likely to continue through the year.’While he predicted that national debt would slow economic growth, Boud said, “Rising mortgage rates are just beginning and inflationary pressures are slowly building. Overall we are in the bottom of the seventh inning of a challenging and rewarding housing market in an environment of under supply and increasing costs.”Giving the current comparison between housing inventory and annual closings by price range, Boud said that the overall percentage share of housing inventory was far below closings in percentage terms at all price ranges below $200,000. “As soon as it hits $400,000 the inventory is increasing and especially in the $800,000 range it far outstrips the closing,” Boud said.Some of the other factors, that he predicted would impact housing in the coming months also included the fact that the national housing market would become increasingly overvalued. However, “the risk of a price collapse is small due to under supply,” Boud projected. “The surge in remodeling/renovation will continue.”Click here to view the complete recording of the webinar. The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Home / Daily Dose / A Snapshot of the Housing Market in 2019center_img Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Constructions Demand Homes HOUSING Housing Market Inventory Metrostudy Supply tariffs 2018-08-15 Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago Share 1Save Tagged with: Constructions Demand Homes HOUSING Housing Market Inventory Metrostudy Supply tariffs The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Subscribelast_img read more

Study: Broome County is 7th most vulnerable county to virus in N.Y. per demographic

first_img(WBNG) –According to a study done by Cornell University, Broome County is the 7th most vulnerable county in New York to the coronavirus per demographic. Additionally, Broome County is the 26th most vulnerable county when taking a look at health defects such asthma, cardiovascular disease, diabetes and high blood pressure along with adult obesity and smoking rates. The study takes in consideration the percentage living in a nursing home, jail or prisons, households than span three generation of families, and people with disabilities. center_img To take a look at the study, click here.last_img

Rights cuts already possible in 2017, warn PFZW, ABP

first_imgPFZW and ABP saw their official policy coverage ratio – the 12-month average of the topical funding, used as the criterion for granting indexation and administering rights cuts – drop to 97% and 98.7%, respectively, at year-end.However, the dramatic decline seen across equity markets since mid-January has yet to be factored into the coverage ratios.At the time, the consultancies Mercer and Aon Hewitt concluded that the market decline would  reduce average Dutch coverage ratios by approximately 4 percentage points.“Were the topical funding to stand at 87% at the end of this year, we would have to start discounting pension rights straightaway,” said Borgdorff.He added that PFZW’s recovery plan was aimed at meeting the required funding level of 126.6% in ten years’ time, and that the mapped out improvement was based on the maximum allowed assumptions for returns, equating to an annual result of 6%.“However, [from] a funding of 87%, we won’t be able to meet our target,” he noted. PFZW fell well short of the 6% target in 2015, only achieving an overall return of -0.1%.The announcement of possible rights cuts next year came as a surprise, as it had been widely expected within the pensions sector that discounts would not be on the cards soon.In order to prevent shocks, the new financial assessment framework (nFTK) allowed the postponing cuts for five years, in case pension funds’ coverage fell short of the required minimum funding of 105%.With 98.5% and 97.7% respectively at year-end, the policy funding of the large metal sector funds PMT and PME stood at a similar level as ABP’s and PFZW’s coverage.Jan Berghuis, chairman of the €60bn PMT, noted that the planned recovery had been “delayed and the possibility of rights discounts had come closer”.Eric Uijen, director of the €40bn PME, cited “dark clouds”, and echoed Berghuis’ forecast that the lack of improvement had increased the likelihood of cuts.Following the recent decline in the financial markets, the topical funding of both metal schemes has dropped roughly 4 percentage points, and has brought them closer to the funding level of 90% that would trigger rights cuts. Dutch pension savers might face rights cuts as early as next year If the current headwind of low interest and ailing equity markets continues, two of the largest pension funds in the Netherlands have warned. While presenting the preliminary returns for 2015, Peter Borgdorff, director of the €164bn healthcare scheme PFZW, warned that the participants could face a rights cuts in 2017.However, was at pains to emphasise that any cuts could be smoothed out over a 10-year period.Corien Wortmann-Kool, chair of the €351bn civil service scheme ABP echoed Borgdorff’s warning. “The chances haves increased that cuts are necessary next year,” she said as the civil service scheme, Europe’s largest pension fund, published its preliminary results for 2015.last_img read more

VLT upgrades see Greek OPAP ride out tough Q3 trading

first_imgShare Retail closures have ‘severe’ impact on Playtech August 5, 2020 Submit Playtech goes live in the US with bet365 August 7, 2020 Jason Ader – No Boogeyman… Activism will play a vital part in reshaping gambling August 20, 2020 Share Related Articles StumbleUpon Publishing its latest Q3 2018 trading statement, Athens-listed lottery and gambling group OPAP SA reports growth despite being impacted by unfavourable sporting results alongside Greek macroeconomic adjustments.An enhanced OPAP group withstands declines in 2018 wagering activities, as the firm maintains a positive gross-gaming-revenue (GGR) contribution of Q3 2018 – €369 million (+3.2%) running alongside a year-to-date GGR of €1.106 billion (+6%).Updating investors, OPAP governance details that it day-to-day operations have been strengthened by the effective upgrade to its retail VLTs and systems carried out in early 2018.The terminal upgrades would see OPAP record period gross profits of €146 million up 5% on Q3 2017: €139 m, maintaining a YTD gross profits return of €434 million (YTD 2017: €408 m).Despite the improved profits results, OPAP Q3 2018 trading was impacted by lower sportsbook earnings following a series of customer-friendly results and a lower take-up of its instant lottery products.Closing its Q3 2018 trading, OPAP declares 6% EBITDA decline to €87 million (Q3 2017: €93 m), with YTD EBITDA attributed to €244 million (YTD 2017: €223 m).Damian Cope Group Chief Executive of OPAP SA, detailed that the results were encouraging as the legacy Greek gambling operator initiatives its 2020 vision directive, outlined in 2018.“Our Q3 performance confirms OPAP’s steady progress in the delivery of our 2020 Vision. Despite some unfavourable sports results, including the World Cup Final match itself, and the ongoing macroeconomic challenges, the OPAP team delivered strong like-for-like EBITDA growth, plus year on year revenue growth for the 5th quarter in a row.During Q4, we have further enhanced our retail offering with new products in our Numerics and Betting categories, both of which have been well received by our customers. In addition, our new online betting platform is now live and we are finalising development plans for a busy 2019 ahead.”OPAP – Q3 2018 – Performance Overviewlast_img read more