NORTH STATE BIA POSTS FEBRUARY SALES NUMBERS
ROSEVILLE - A total of 426 new homes were sold during February in the greater Sacramento region, the North State Building Industry Association reported today. The sales were reported in 140 subdivisions in the six-county Greater Sacramento region from Marysville and Yuba City in the north to Galt in the south. In addition, 9,742 people visited active new-home communities last month.
BIA President and CEO Michael Strech is encouraged that sales will continue to rise as we head into spring.
"We are excited to see the high sales numbers in February. Sales increased by more than 20 a week over January. Even more encouraging is the comparison in year over year sales. February saw 70 more sales than the same month last year and we expect to see numbers continue to increase." Strech said.
Did You Know?
Mortgage rates skidded last week to the lowest level in a year. Freddie Mac said the 30-year benchmark mortgage rate fell 10 basis points to 4.31% in the week ending March 14. The 15-year fixed rate fell to 3.76% from 3.83%, while the 5-year hybrid adjustable-rate mortgage fell to 3.84% from 3.87%. (Marketwatch)
What distracts from curb appeal? A study conducted by OnePoll revealed that 57% say a dirty exterior, a lawn that is not mowed (55%) and dead plants and flowers (53%) are the top 3 worst offenders. Garish house colors, tacky mailboxes, no trespassing or beware of dog signs, garden gnomes, fairy statues, metal sculptures, paper lanterns, and trampolines also received honorable mentions. (NY POST)
U.S. oil exports will surpass Russian shipments and threaten to overtake Saudi flows by 2024, the...Click here to read more.
Did You Know?
Freddie Mac analysts say millions of senior citizens are staying in their homes longer than their predecessors in earlier generations, keeping homes off the market and making it more difficult for younger Americans to break into ownership. 1.1 million homes have been “held off the market” by owners born between 1931 and 1941, and another 300,000 by those born between 1942 and 1947. Another 250,000 homes are still being occupied by their baby boomer owners – those born between 1948 and 1958. According to their calculations, there is an overall shortfall of 2.5 million housing units across the USA. (Marketwatch)
Ikea will start leasing furniture as it moves to develop "scalable subscription services" to prolong the life of its products. IKEA is opening smaller stores in downtown areas and working to improve customers' delivery and online...Click here to read more.
Did You Know?
Mortgage rates have fallen to around their lowest levels in 8 months. The average rate for a 30-year fixed mortgage fell to 4.51%, matching the lowest level since last spring, according to Freddie Mac. That rate is still higher than its level of 3.95% from a year ago but has fallen from a more-than-7-year high of nearly 5% in October.
$ 1 trillion of China's $24 trillion wealth is held abroad. New tax policies may impact rich Chinese citizens including a new GIFT TAX of as much as 20%. In the past, the rich could avoid paying taxes on overseas earnings by acquiring a foreign passport/green card, while keeping their Chinese citizenship. This won’t work starting in January as the government will tax global income from all holders of "hukou" household registrations regardless of whether they have any additional nationalities. New property...Click here to read more.