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Archive for Friday, March 5, 2010

Pending home sales drop 7.6% in January

March 5, 2010

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— The number of buyers who agreed to purchase a home fell sharply in January, a sign that demand for housing is sinking.

As stormy weather slammed Eastern states, an index that tracks sales agreements fell 7.6 percent from December to a seasonally adjusted January reading of 90.4, the National Association of Realtors said Thursday. It was the lowest reading since last April.

The weakness, however, was not confined to the Northeast. The biggest month-to-month drop was in the West, where sales fell 13 percent. Sales fell almost 9 percent in the Northeast and Midwest and 2 percent in the South.

The index is considered a barometer for future sales because typically there is a one- to two-month lag between a signed sales contract and a completed deal. A reading of 100 is equal to the average level of sales activity in 2001, when the index started.

Comments

Richard Heckler 4 years, 9 months ago

Why continue to flood our markets at a cost to taxpayers?

With increased numbers of houses you have increased demand on services, and historically the funding of revenues generated by residential housing does not pay for the services, they require from a municipality.

The bottom line:

Adding miles and miles and miles of new infrastructure is like adding miles and miles and miles of new taxes. In a bedroom community this is not expanding the tax base it is expanding our tax bills.

Until Lawrence can afford to fund social services adequately,maintain neighborhood streets and side walks,care for the library etc etc how in the world can Lawrence afford to spend on new projects that truly add NEW expense for the community to maintain.

This is not sensible spending or sensible growth.

Richard Heckler 4 years, 9 months ago

Not only that we are hearing that the KCMO metro market is the better bang for the buck. I've heard that on national radio as well.

KCMO metro comes loaded with culture,Blue Valley Schools,great music scene,art district aka crossroads.

Plenty of competition for Lawrence when money matters.

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