Wiener Lucena Group at RE/MAX - 6 Offices in
Boca Raton - Boynton Beach - Delray Beach - Parkland
Tuesday, July 11, 2017
REAL ESTATE NEWS JULY 2017
Pending Home Sales Sluggish as Low Supply Rears Its Head
Pending home sales were sluggish in April as low supply reared its head, down 1.3 percent in the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI). The PHSI posted 109.8 in April, down from 111.3 in March. The Index is based on contract signings.
"Much of the country for the second straight month saw a pullback in pending sales as the rate of new listings continues to lag the quicker pace of homes coming off the market," says Lawrence Yun, chief economist at NAR. "REALTORS® are indicating that foot traffic is higher than a year ago, but it's obviously not translating to more sales.
The West fared best in April, with pending home sales up 5.8 percent to an Index reading of 100.0, though still down 4.2 percent from one year ago. The Midwest saw a 4.7 percent decrease in the Index to 104.4, while the South saw a 2.7 percent decrease to 125.9, and the Northeast, a 1.7 percent decrease to 97.2.
Scarce supply will remain the status quo, according to Yun, unless more homes are made available, especially from the investor side.
Summer is the season for grilling. However, an average of 8,900 home fires involving grills, hibachis, or barbecues occur each year in the United States. In 2014, 16,600 patients went to emergency rooms due to injuries involving grills, and 1,600 children under age five suffered thermal burns, caused by touching a hot surface. Safety aside, grilling-related fires cause about $118 million in property damage each year.
Clearly, it’s important to keep safety in the forefront when enjoying all that your grill has to offer.
Here are a few common sense reminders on keeping your family and your home safe:
Keep the grill well away from your home and deck railings, and out from under eaves and overhanging branches.
Remove grease or fat buildup from the grill and in trays below the grill.
Never leave your grill unattended, and keep children and pets at least three feet away from the grill at all times.
Always make sure the lid of a gas grill is open before lighting.
If using starter fluid for a charcoal grill, use only charcoal starter fluid, and never add charcoal fluid or any other flammable liquid to the fire. Keep charcoal fluid out of the reach of children and away from heat sources.
If your charcoal grill has an electric starter, use an extension cord.
When finished grilling, let the coals cool completely, then dispose in a metal container.