THIS WEEK'S INFO THAT HITS US WHERE WE LIVE
& BEYOND
...Too bad the Oracle of Omaha's money can't make him look any better. At least our housing market data looks pretty spiffy these days.
The Mortgage Bankers Association (MBA) reported its Builder Application Survey reached its highest November reading since the BAS index began in 2012.
The MBA's vice president of Research and Economics said, "This is a very good result considering the time of year. On a seasonally adjusted basis, we estimate there were 524,000 new home sales in November, up 5.9% from our October estimate of 495,000, and up 31% from November a year ago.
The MBA also reported that for the week ending December 4, mortgage applications were up 1.2% overall compared to the prior week, with purchase applications up .04%. Some feel appraisal volume is a better indicator of market strength, since fallout is less because appraisals are ordered after credit has been approved.
An appraisal forms software company said volume was up 35.7% for the week, easily making up the 29.2% drop during Thanksgiving week. Finally, realtor.com's chief economist expects 2016 to deliver "moderate gains in existing prices and sales," which he says "indicate that we are entering a normal, but healthy housing market."
BUSINESS TIP OF THE WEEK... A goal without a plan is only a dream. Once you set your goals for 2016, map out the path you will take to achieve them.
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