Posted in home

Home sales rise despite low inventory and pandemic

New-home sales also rose sharply in August to their highest level since September 2006. Sales of newly built homes reached an annual rate of 1.01 million in August 2020, 43.2 percent higher than in August 2019, according to the Census Bureau. New-home sales were also up 4.8 percent compared to July 2020.

Low inventory and high prices

While demand for houses is strong despite the coronavirus pandemic, the shortage of homes for sale means that prices are rising rapidly in many markets. The number of existing homes for sale dropped by 18.6 percent in August 2020 compared to August 2019, according to NAR. Inventory of newly built but unsold homes also dropped dramatically by 40 percent compared to August 2019 to the lowest supply since the data has been tracked beginning in 1963.

For the Washington area, the median listing price was up 9.2 percent for the week ending Sept.

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Posted in home improvement loans

Home sales in Q3 2020 rise 2.5 times, launches surge 4.5 times: Knight Frank India



a tall building in a city: Home sales in Q3 2020 rise 2.5 times, launches surge 4.5 times: Knight Frank India


© Vandana Ramnani
Home sales in Q3 2020 rise 2.5 times, launches surge 4.5 times: Knight Frank India

Despite the COVID-19 pandemic, home sales volume jumped by 2.5 times to 33,403 units in the third quarter of 2020 compared to 9,632 in the second quarter of 2020. New residential unit launches increased by 4.5 times to 31,106 units in third quarter, compared to 5,584 units in the previous quarter, a Knight Frank India report has said.

Sales saw an uptick in the third quarter of 2020 over the preceding quarter on account of innovative schemes offered by real estate developers. These included financial benefits, discounts and easy payment options to attract buyers during the period of lockdown. Developers were also able to garner buyer interest through active usage of digital platforms during this period to engage with customers.

Lower home loan interest rate also supported pick-up in residential sales. The

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Posted in renovation

Kettering costs for police headquarters renovation rise $550K, draw questions

The “additional funds related to furniture, fixtures and equipment, as well as the actual renovation or construction,” Schwieterman told council last week. “During the construction Phase I, we encountered additional existing conditions that needed to be remedied” for the two-phase project.

ExploreEDUCATION: Deadline nears to fill longtime Kettering school board member’s seat

Kettering City Council voted 5-0 Tuesday night for the $550,000 in supplemental appropriations in an approval that came without questioning Schwieterman’s explanation. That money will come from the city’s reserve fund, officials said.

The city “made the decision to spend additional dollars to make those necessary repairs for the renovation,” Schwieterman told council. “We also had items related to furniture, fixtures and equipment – a couple of major items being the decision to go ahead and reconstruct and remodel the detective section as opposed to utilizing the pre-existing facility.”

However, resident Sterling Abernathy told council members he

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Posted in home repair

Luxury Real Estate is on the Rise With 60% Improvement

In July 2020, Engel & Völkers announced that they saw a 60 percent increase in luxury real estate transactions over the same period last year, with homes selling for between 2 and 5 million euros (around $2.3M and $5.9M USD). “We are already seeing significant catch-up effects after the challenging first half of the year. Buyer activity is high in both national and international real estate markets,” said Sven Odia, CEO of Engel & Völkers AG.

 

So, what has caused this increase? Well, because of coronavirus impacts, many people are spending much more time at home, which has forced them to reevaluate their living spaces and what’s important. Properties with tons of outdoor space that might sit on the edges of popular cities are becoming a lot more attractive than inner-city dwellings. According to Engel & Völkers AG, the most important criteria for buyers now include a garden offering

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Posted in lowe's home improvement

Virus cases rise in US heartland, home to anti-mask feelings

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FILE – In this Sept. 1, 2020 file photo, Virginia Gov. Ralph Northam listens to a reporter’s question during a press briefing inside the Patrick Henry Building in Richmond, Va. Northam and his wife have both tested positive for the coronoavirus. The governor’s office said in a statement Friday, Sept. 25, that Northam no symptoms while those of Pam Northam are mild.

AP

It began with devastation in the New York City area, followed by a summertime crisis in the Sun Belt. Now the coronavirus is striking cities with much smaller populations in the heartland, often in conservative corners of America where anti-mask sentiment runs high.

The spread has created new problems at hospitals, schools and colleges in the Midwest, as well as in parts of the West.

Wisconsin is averaging more than 2,000 new cases a day over the last week, compared with 675 three

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Posted in home improvement loans

KB Home (KBH) Q3 Earnings Beat, Margins Rise, Stock Slides

KB Home’s KBH stock slips 1.5% in the after-hours trading session on Sep 22, after it reported third-quarter fiscal 2020 (ended Aug 31, 2020) results. Although both earnings and revenues topped the respective Zacks Consensus Estimate on solid housing gross margin, the company expects its ending community count to remain relatively flat sequentially for the next two quarters.

Earnings & Revenue Discussion

The company reported quarterly earnings of 83 cents per share, which surpassed the consensus estimate of 50 cents by 66%. Also, the metric grew 13.7% from the year-ago figure of 73 cents per share owing to improvement in housing gross margin.

KB Home Price, Consensus and EPS Surprise

KB Home Price, Consensus and EPS Surprise

KB Home price-consensus-eps-surprise-chart | KB Home Quote

Total revenues of $999 million topped the consensus mark of $896 million by 11.6% but fell 13.9% on year-over-year basis due to COVID-19 impacts.

Segment Details

Homebuilding: For the quarter under

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Posted in home

Home Builder Stocks Rise as Confidence Hits a Record High

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NAHB chief economist Robert Dietz said builders are benefiting from high traffic, but warned about the rising cost of lumber.


Harald Tjostheim/Dreamstime.com

Home builders’ exceptional summer isn’t over yet. A monthly housing market gauge measuring builder confidence has hit its highest point in 35 years, the National Association of Home Builders, or NAHB, reported Wednesday.

The NAHB/Wells Fargo Housing Market Index rose to a reading of 83 in September, the trade organization said, surpassing a previous record of 78. All three components of the survey—which measure builder perceptions of current sales conditions, sales expectations over the next six months, and traffic of prospective buyers—reached new highs amid historic traffic fueled by low interest rates and migration trends, the trade group said in a release.

Like many housing indicators this year, the confidence index has been on a wild ride. As the coronavirus pandemic thrust the industry into uncertainty,

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Posted in home

Singapore Home Sales Beat Expectations and Rise to 11-Month High

(Bloomberg) — Singapore home sales surged to an 11-month high in August, buoyed by demand from locals who are betting that prices will rebound as soon as next year.



a view of a city with tall buildings in the background: Housing blocks stand in the Punggol area in Singapore on Monday, April 20, 2020. The number of daily coronavirus cases in Singapore topped 1,000 for the first time since the pandemic began, as an outbreak among migrant workers living in shared dormitories continued to surge.


© Bloomberg
Housing blocks stand in the Punggol area in Singapore on Monday, April 20, 2020. The number of daily coronavirus cases in Singapore topped 1,000 for the first time since the pandemic began, as an outbreak among migrant workers living in shared dormitories continued to surge.

The number of new units sold rose 16% to 1,256 last month from 1,080 in July, according to Urban Redevelopment Authority data released Tuesday. That’s the most since September last year and up from a near six-year low in April during the height of the lockdown.

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Fears of Singapore falling into a prolonged recession are subsiding with home sales growing for the fourth-consecutive month. Singapore forecast its worst recession on record in

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Posted in home

Rosa Parks’ home displayed in Italy as US race tensions rise



FILE - This Dec. 12, 2017 file photo shows the rebuilt house of the civil rights activist Rosa Parks in Berlin, Germany. The rundown, paint-chipped Detroit house where U.S. civil rights campaigner Rosa Parks took refuge after her historic bus boycott is going on display on Tuesday, Sept. 15, 2020 in Italy in a setting that couldn’t be more incongruous: the imposing central courtyard of the 18th century Royal Palace in Naples, southern Italy. (AP Photo/Michael Sohn, file)


© Provided by Associated Press
FILE – This Dec. 12, 2017 file photo shows the rebuilt house of the civil rights activist Rosa Parks in Berlin, Germany. The rundown, paint-chipped Detroit house where U.S. civil rights campaigner Rosa Parks took refuge after her historic bus boycott is going on display on Tuesday, Sept. 15, 2020 in Italy in a setting that couldn’t be more incongruous: the imposing central courtyard of the 18th century Royal Palace in Naples, southern Italy. (AP Photo/Michael Sohn, file)

NAPLES, Italy (AP) — The run-down, paint-chipped Detroit house where U.S. civil rights icon Rosa Parks took refuge after her historic bus boycott is going on display in Italy in a setting that couldn’t be more incongruous: the imposing central courtyard of the Royal Palace in Naples.

It’s the latest stop for the house in a years-long saga that began when Parks’ niece saved the tiny two-story

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Posted in contractions

South Africa rand falls after poor data, stocks rise

Updates prices, adds stocks

JOHANNESBURG, Sept 10 (Reuters)South Africa’s rand weakened on Thursday as data showing contractions in mining and manufacturing in July pointed to a slow recovery in the domestic economy.

At 1540 GMT the rand ZAR=D3 was 1.59% weaker at 16.8800 per dollar.

Statistics South Africa agency figures showed on Thursday that mining output fell 9.1% in July while manufacturing was down 10.6%.

On the other hand, the central bank said that the current account balance swung to a deficit in the second quarter as the trade surplus more than halved due to the impact of the COVID-19 pandemic.

“South Africa’s weakening economic fundamentals have dragged down the rand,” Investec economist Annabel Bishop said in a research note.

“Concerns over the future of domestic economic growth are also limiting the rand from gaining fully from positive global financial market sentiment.”

Data on Tuesday showed that

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