For the week of January 29, 2018

>> Market Update

QUOTATION OF THE WEEK..."A lot of people ask me if I were shipwrecked, and could only have one book, what would it be? I always say 'How to Build a Boat.'" --Steven Wright, American comedian

INFO THAT HITS US WHERE WE LIVE... Just like Housing Starts the prior week, New Home Sales closed out 2017 at their highest annual total in a decade, 14.1% ahead of a year ago. They were down 9.3% in December, but the post-hurricanes boost is over. Read more.

Existing Home Sales ended the year in even better shape, posting their best totals since 2006. They slipped 3.6% in December, but still finished 1.1% up from a year ago. Demand stays strong, but inventories are a concern in many markets.

The latest Mortgage Bankers Association Weekly Applications Survey reported the seasonally adjusted Purchase Index up 6%, to its highest level since April 2010.

BUSINESS TIP OF THE WEEK... Always follow up. Respond promptly to emails, voice mails and online comments from everyone--current, potential and past clients, your community and referral network.