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New Home Sales Show Strength in September

Thursday, November 2, 2017

September's new home sales data delivered some positive news for a housing market that has recently shown signs of sluggishness. Sales contracts for newly-built, single-family homes grew 18.9% in September and are running 8.6% higher on a year-to-date basis.

Inventory levels of new homes have been rising, but currently register at only a five-months' supply. Moreover, the largest gains in new-home sales are homes listed in inventory but that have not begun construction – a clear signal that additional home building is needed.

Another indication of unmet demand is the rise in home prices, which recently posted an annual gain of 6.1%, according to the Case-Shiller Index. However, the higher prices have not negatively affected the national homeownership rate, which increased to 63.7% during the second quarter, making it the fifth consecutive quarter of noticeable gains. Recent gains for homeownership appear to mark a turning point for housing demand.

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In Memoriam Bernard “Burnie” Dolberg 1928-2017

Monday, November 20, 2017

Bernard “Burnie” Dolberg passed away on Nov. 16, 2017. He was the longtime owner of The Fireplace Place in Fairfield, New Jersey. Dolberg was a proud WWII veteran. He was a pioneer and fixture in the Hearth Industry for over 35 years....

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Builder Confidence Edges Up

Friday, November 17, 2017

Builder confidence in the market for newly-built, single-family homes rose two points to a level of 70 in November on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), the highest score since March, and the second...

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Why Only 11% of Us Are Moving

Friday, November 17, 2017

Businesses that thrive when American households, in droves, pack up their belongings and move them to another residence are mystified. Why, since the economy has been growing, wealth and household equity have been restored, and the Internet has continued...

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