Five NPI and GPI inspectors are celebrating their 5th year anniversaries with us this month. Congratulations to Greg Eckert of Cincinnati, OH; Don McLeod of Brantford- Woodstock, ON; Ismir Keranovic of Calgary, AB; Bob McDonough of Atlanta, GA; and Mike Hogan of Ottawa, ON. Thanks guys for a great five years and many more to come!
The National Association of Realtors is reporting an increase in pending home sales according to a leading home market index. The Pending Home Sales Index gauges future home sales bases upon pending sales. The index increased 5.2% in October, which is 13.2% higher than it was in October 2011. We are seeing the highest pending home sales numbers since March of 2007. There have been 18 straight months of gains on a year-over-year basis.
The National Association of Home Builders is reporting that lower interest rates have made it easier for median-income families to afford a home. The National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) released this past month shows an uptick in affordability for families making $65,000 a year. Of all homes sold in the 3rd quarter of 2012, 74.1% were affordable to those in this income group. This is up from 73.8% in the 2nd quarter of the year.
Happy Holidays from all of us at National Property Inspections and Global Property Inspections. Enjoy the festivities of the season and the New Year.
-Wishing you a terrific season from NPI and GPI
This month National Property Inspections is welcoming four new inspectors. Congratulations goes out to Max Cheang of Johns Creek, GA; Ed Fillpot of Round Rock, TX; Hugh Meade of Johnston, IA; and Ted Eachus of Taylors, SC. Welcome guys!
According to the National Association of Home Builders (NAHB), builder confidence made gains last month. The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) shows that November was the seventh straight month with gains in builder confidence for newly built, single-family homes. Another category of the index also saw positive gains: sales conditions. This category saw its highest level in more than six years. Also, the category for sales expectations for the next 6 months saw increases.
Four franchisees are celebrating their 10th year with NPI this month. Congratulations to John Nelson of Manassas, VA; Charlie Garcia of Santa Clarita, CA; Chris Harr of Columbus, OH; and Paul Supplee of Williamsburg, VA. Congratulations on a great 10 years guys.
The CPSC and Dolan Northwest have issued a recall for Ceiling-Mounted Light Fixture products. The product can become a fire or shock hazard due to possible degrading of the fixture’s socket wire insulation. The recall is in effect for approximately 8,000 units sold.
The National Association of Home Builders (NAHB) is reporting that there was a 3.6% rise in housing production for the month of October. This would bring the number up to 894,000 units at a seasonally adjusted rate. The numbers released by the U.S. Commerce Department would make this the highest pace of new home construction since July 2008.
Two members of the NPI family have received new licensing or accreditation recently. Congratulations to Chris Scherf of Cedar Rapids, IA and Christopher Bandy who is an employee of Stephan Quigley of Abingdon, MD