Pace of New Home Sales Climbs to FiveYear High

first_img Agents & Brokers Attorneys & Title Companies Census Bureau For-Sale Homes Home Prices Home Sales Home Values Homebuilders Housing Supply HUD Investors Lenders & Servicers Mark Lieberman Mortgage Rates National Association of Home Builders National Association of Realtors Pending-Home Sales Realtor Association Service Providers 2013-07-24 Mark Lieberman Pace of New Home Sales Climbs to Five-Year High Share The price of a new single-family dropped to its lowest level in seven months in June as sales surged to a five-year high, the “”Census Bureau and HUD””: reported Wednesday. [IMAGE]The seasonally adjusted annual rate of sales welled 8.3 percent in June to 497,000. Economists surveyed by Bloomberg expected June sales to increase to 484,000 from May’s originally reported 476,000. May sales were revised down to 459,000.The median price of a new home, according to the Census/HUD report, fell 5.0 percent in June to $249,700, the third time the median price has dropped in the last four months. May’s median price was revised down to $262,800 from the originally reported $263,900. While the inventory of new homes for sale rose to 161,000 in June–the highest level since September 2011–from 159,000 in May, the months’ supply fell to 3.9 from 4.2 in May, matching January for the lowest supply since October 2004.The Census/HUD homes sales report continued to show a decided shift to lower-priced homes; 33 percent of homes sold in June were priced less than $200,000, up slightly from 26 percent in May and 24 percent in April. At the other end of the range, 15 percent of home sold in June were priced at $400,000 or higher compared to 16 percent in May and 24 percent in April.The average price of a new home slipped $12,400 in June after falling $29,400 in May, which was the largest month-over-month decline since August 2008, when the average price fell $36,400. The average price has also dropped in three of the last four months.Despite the monthly decline, June├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós median price was up 7.4 percent over June 2012. The average price in June was 8.5 percent higher than June 2012.[COLUMN_BREAK]With the report of June sales, the Census Bureau and HUD also revised sales figures back to March, turning the originally reported month-over-month increase to a decline. With the revision, new home sales have increased for three straight months for the first time since July-September last year. June sales were up 38.1 percent over a year ago, the strongest annual gain since January 1992, when sales were 68.6 percent higher than the recession month of January 1991.The June increase came in the same month in which the Housing Market Index, the monthly confidence survey conducted by the National Association of Home Builders, rose seven points to 51–the first positive (above 50) reading since April 2006. The index rose another six points in July. The increase in the index in the last two months has been led by an increase in the six-month outlook for new home sales and an improvement in buyer traffic. The surge in sales may also be a response to increasing interest rates as buyers seek to lock in lower rates. The new home sales report tracks contracts for sale, not closings, and as such is comparable to the Pending Home Sales Index (PHSI) compiled by the National Association of Realtors (NAR). The NAR will release its June PHSI on July 29.The Census/HUD sales report suggested continuing inventory tightening. Builders in June, according to a separate Census/HUD report, completed new single-family homes at an annual rate of 554,000, just 57,000 more than the sales rate–the narrowest margin since January 2012. Regionally, June sales improved on a monthly basis in three of the four Census regions, falling only in the Midwest, where the sales rate dropped 11.8 percent to 67,000 from 76,000 in May but was 36.7 percent ahead of June 2012. In the Northeast, the sales rate was up 18.5 percent to 32,000 and up 100 percent over last year. The sales pace in the West rose 13.8 percent in June to 124,000 from 109,000 May and was 14.8 percent above June 2012. In the South, the sales rate in June was 274,000, up 10.9 percent from 247,000 in May and 36.5 percent over June 2012._Hear Mark Lieberman every Friday on P.O.T.U.S. Radio, Sirius-XM 124, at 6:20 a.m. Eastern._center_img in Data, Government, Origination, Secondary Market, Servicing July 24, 2013 500 Views last_img read more

In 1999 Warner got his first starting opportunity

first_imgIn 1999, Warner got his first starting opportunity in the NFL with the St. Louis Rams, and he didn’t take long to make the most of it. That year, Warner led the Rams to a 13-3 record, a Super Bowl title and snagged an MVP for himself in the process.With Warner at quarterback, the Rams had one of the best offenses in NFL history, dubbed ‘The Greatest Show on Turf.’ In that span, the quarterback won another MVP in 2001 and still holds several NFL records such as most passing yards in a Super Bowl (414 in Super Bowl XXXIV), being the fastest quarterback to throw for 10,000 yards, and is the only quarterback to throw for over 14,000 yards with two teams.Hoge believes Warner’s ability to succeed in different places makes him deserving of a spot in the Hall of Fame.“Won a Super Bowl, great story and then what he did in Arizona, I don’t need to tell you guys what he did there. It wasn’t just one environment.” Derrick Hall satisfied with D-backs’ buying and selling Your browser does not support the audio element. 0 Comments   Share   Warner had a long career that lasted for eleven seasons, five of which he spent with the Cardinals.He signed with Arizona in 2005 and after being in and out of the starting spot he eventually led the Cardinals to NFC West championships in 2008 and 2009, and in 2008 he took the team to Super Bowl XLIII.Even though the Cardinals lost that game to the Pittsburgh Steelers Warner played well, throwing for 377 yards, three touchdowns and one interception.In his five seasons in Arizona, Warner threw for 15,843 yards, 100 touchdowns and completed 65.1 percent of his throws. His best year with the Cardinals was in 2008, when he passed for 4,583 yards and 30 touchdowns.But even though Warner had success in the Valley, he began his legacy before he first suited up for the Cardinals.An undrafted free agent from Northern Iowa in 1994, Warner took the long way to NFL stardom, a trip that had stops with the Arena Football League’s Iowa Barnstormers and even the Amsterdam Admirals of NFL Europe.Hoge says he saw Warner’s talent when he was calling Arena Football.“The first time I ever did an Arena Football game the Iowa Barnstormers, Kurt Warner was the quarterback,” Hoge said. “They were down at like the two yard line and his pass was off his back foot and he faded over in the corner. I’m like, ‘Oh my gosh this guy never set his feet and threw the ball.’” Former Cardinals kicker Phil Dawson retires LISTEN: Merril Hoge, ESPN NFL analyst center_img Top Stories Arizona Cardinals quarterback Kurt Warner (13) throws a pass under pressure from the New York Jets during the fourth quarter of an NFL football game Sunday, Sept. 28, 2008, in East Rutherford, N.J. The Jets won 56-35. (AP Photo/Mel Evans) The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo It’s been seven seasons since former Arizona Cardinals quarterback Kurt Warner took off his pads for the last time in 2009.For the third time, Warner has been nominated for the Pro Football Hall of Fame and ESPN NFL analyst Merril Hoge told Doug and Wolf on Arizona Sports 98.7 FM Tuesday he believes Warner deserves to have his bust in Canton.“The way that he played, how he played, the length that he played, there’s no doubt he’s a Hall of Famer, no doubt,” Hoge said. Grace expects Greinke trade to have emotional impactlast_img read more