Tom McMullen of Niagara Falls, ON is the latest Global Property Inspections business owner to add a new employee and expand his business. Brad McMullen has recently been hired on by Tom. Congratulations to you both.
The Wall Street Journal is reporting good news when it comes to new home prices. New Department of Commerce data is showing an increase of 37% for new home construction over last year. Competition for prime real estate has driven contractors to bid on land in desirable areas. With increased demand for new housing, such competition will regulate home prices and lead to a stronger housing market.
National Property Inspections and Global Property Inspections are welcoming four new business owners to our family. Michael Baden of Burlington, CT; Joshua Fried of Southport, CT; Tom McMullen of Niagara Falls, ON; and Steve Quint of Lakeville, MN are all new NPI or GPI franchisees. Congratulations to all four of you!
According to the National Association of Realtors (NAR), housing affordability will see an annual record for 2012. Only 11 months of data are in for the NAR’s Housing Affordability Index, but 2012 looks to be a record setting year. The index takes into account median home price, median family income, and average mortgage interest rate. Since 1970, the first year the index has been recorded, the United States has not seen a buyer’s market at this level.
The CPSC and Dolan Northwest have issued a recall for Burien Floor Lamps. The on/off switch can malfunction and melt, becoming a shock or fire hazard. The recall is in effect for approximately 1,100 units.
NPI and GPI are celebrating two 5th year anniversaries this month. Congratulations goes out to Bob McDonough of Atlanta, GA and Mike Hogan of Hammonds Plains, NS. Thanks Bob and Mike for a great 5 years.
The Wall Street Journal is reporting that housing starts increased 12.1% in December from the month before. This would bring housing starts to a seasonally adjusted annual rate of 954,000, the highest rate in four years. It is also a 37% rise from December of 2011.
According to the National Association of Realtors (NAR), November was the 3rd straight month of growth for pending home sales. This would put pending home sales at their highest level in two and a half years. The NAR’s Pending Home Sales Index, showed a 9.8% rise since November of last year. Pending home sales have risen for 19 consecutive months on a year-over-year basis.
Jim Foster of Cooper City, FL has recently gained new licensing and accreditation. Congratulations to Jim!
The CPSC and Goodman Company have issued a recall for Amana Heating and Cooling units. The serial plates on the units can be inaccurately labeled, causing improper maintenance and servicing to be performed.