Positive news is coming from the National Association of Home Builders (NAHB) and its LMI index. The LMI stands for National Association of Home Builders/First American Leading Markets Index and shows a housing market that is approximately 85% of its normal activity nationwide.
Entrepreneur.com has posted a great infographic from The International Franchise Association (IFA). It shows that franchises are growing twice as fast at the overall U.S. economy and are creating roughly 10% of all American jobs.
According to the National Association of Realtors (NAR), prices are up for existing homes, a proven indicator of future housing demand. The NAR is reporting an 11.7% rise in September of this year from the year before in national median existing-home price for all housing types. This brings this number to $199,200 for September 2013.
NPI would like to congratulate Andy Hasler of Camarillo, CA and Ron Schenck of Kennewick, WA. They have both spent 10 years as independent business owners as NPI home inspectors. Thanks Andy and Ron!
According to the Mortgage Bankers Association (MBA), over $146 billion was lent for new mortgages going to apartment buildings with five or more units in 2012. This is a 33% jump from 2011 and shows strong growth in the multifamily unit housing sector.
The National Association of Home Builders (NAHB) is reporting positive growth in the remodeling business. The NAHB’s Remodeling Market Index (RMI) is showing contracted remodeling projects are on the upswing by homeowners that are starting new projects that they may have put off in previous years due to the weaker economy. This shows people putting work into their homes in efforts to sell or, at least, improve resell value.
SurgeArrest surge protectors have been recalled by APC and The CPSC. Many models are included in the recall, see the link below for more details. The surge protectors have the potential to overheat, smoke and melt, and become a fire hazard. The recall is in effect for approximately 15 million units sold.
Entrepreneur.com has a cool infographic on its website explaining the franchising industry in today’s market. The data, provided by the ADP National Franchise Report, shows a promising franchise sector that is outpacing the broader market.
The housing market may have slowed down a bit lately but there’s still good news coming out. According to the Wall Street Journal, home loans are being made available to a wider group of potential homebuyers than in the recent past. Data released by Ellie Mae shows that the average credit score of people who received a mortgage was 732 in September of this year. It was 750 the same time the year before.
This Friday the 8th and Saturday the 9th we will be having our annual company conference in Omaha, NE. Every November franchisees from throughout Canada and the U.S. come to Omaha to learn about new technology, developments in the inspection industry, and how NPI and GPI are doing. We love it whenever National Property and Global Property Inspections franchisees visit. It’s our time to see old friends and welcome new ones. It’s going to be a great conference.