The Real Estate Market Update
Week of February 6, 2012
The Real Estate Market Update is presented courtesy of Lisa Nicholas, Michelle Connor, and Sherry Sawyer, Mortgage Consultants, Prime Lending, Milford, CT, our Number 1 choices when it comes to recommending mortgage professionals you can count on. If you are thinking about buying a home in Trumbull, Shelton, Stratford, Monroe or Bridgeport, these three ladies are the professionals you will want to contact for expert mortgage advice, great rates and outstanding service.
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For the week of February 6, 2012 – Vol, 10, Issue 6
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>> Market Update
QUOTE OF THE WEEK..."Before everything else, getting ready is the secret of success." --Henry Ford
INFO THAT HITS US WHERE WE LIVE...Getting ready for a recovery could be the theme of last week's housing reports. Pending Home Sales, after hitting a 19-month high in November, dipped a bit for December, yet came in 5.6% above where they were a year ago. The National Association of Realtors chief economist observed, "Even with a modest decline, the preceding two months of contract activity are the highest in the past four years outside of the homebuyer tax credit period."
Thursday saw December New Home Sales drop 2.2%, to a lower-than-expected 307,000 annual rate. Yet sales remain in the narrow range they've occupied since May 2010. And the best news was that new home inventories dropped to 157,000, the lowest level on record, since 1963. Unsold new homes under construction and unsold completed new homes are at or near record lows. Experts say this is what's needed to get ready for a sustained housing recovery. Finally, the FHFA price index for homes bought with conforming mortgages was UP 1% in November.
BUSINESS TIP OF THE WEEK... Our motivation colors our work. People driven by money can appear self-serving. But people driven to do the best for their clients usually come off as effective and valuable.
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If you have any questions or comments about any of the information presented above, please do not hesitate to call us a 203 913-1108 or email us at teammori@teammori.com. You can also leave comments directly on our Trumbull Area Real Estate blog. It will be our pleasure to be of service to you. Thank you.
Have a great day!
Bob and Judy
Bob and Judy Mori
TeamMoriRealEstate.com
RE/MAX Right Choice
105 Technology Drive, Suite 1A
Trumbull, CT 06611
Judy: W-203 268-1118, x 322, C-203 913-1109
Bob: W-203 385-0090, C-203 913-1108
Fax: 203 377-3471
on real estate activity in your neighborhood
Licensed in Connecticut
