Positive Trend for New Home Sales 

Robert Dietz of the National Association of Home Builders explains the positive trend of new home sales as of recent.

Contracts for new home sales expanded by 6.1% in February, according to estimates from the joint data release of HUD and the Census Bureau. The growth in sales continues along a positive trend for the market, which is supported by solid job growth, improving household formations, continuing favorable housing affordability conditions, and tight existing home inventory.

The seasonally adjusted annual pace for February new single-family home sales was 592,000. This is 6.1% better than January and a 12.8% gain over a year ago. A mild winter in much of the country likely supported this year-over-year improvement.

Inventory growth continued in February. After hovering near 240,000 for most of 2016, inventory has now risen to 266,000 homes. The current months’ supply number stands at a healthy 5.4. Given tight existing inventory, more new homes are required to meet housing demand.

The most recent data also indicate a growing share of homes not-yet-started in builder inventory. For example, on a year-over-year basis, homes under construction in inventory have increased by almost 6% over the last year. Completed, ready-to-occupy homes (there are only 63,000) are up 5% since February of last year. In contrast, homes not-yet-started listed in inventory have increased 42%, from 36,000 in February of 2016 to 51,000 last month.

Pricing data in the February report suggest recent growth at two ends of the market. Median new home sales price (price of the home in the middle of the distribution) fell to $296,200, consistent with inventory broadening. On the other hand, average home price jumped to $390,400, which appears to have occurred due to growth in sales priced $750,000 or more. This divergent price effect in the data also occurred due to a decline in home sales priced between $300,000 and $400,000.

Regionally, all areas except the Northeast saw monthly growth in sales, with notable growth of 31% in the Midwest. Sales in the Northeast were down 21%. Smaller growth of 4% and 8% was recorded in the South and West respectively.

Solid builder confidence and ongoing tight inventory conditions suggest continued growth for single-family construction in the months ahead. Pricing remains an open question, given rising construction prices and increasing interest rates. New homes will need to be competitively priced, even as prices for existing homes continue to grow. For this reason, we continue to expect a broadening of the new home inventory base and slight declines in median new home size.

Massachusetts Named #1 State in the US

Massachusetts Named #1 State in the US

In a glowing report citing education, health care, and the economy, US News & World Report ranked Massachusetts the best state in the nation in a study released Tuesday.  Julia Guilardi of Boston.com goes into detail below.

It’s been a winning year for the Bay State.

U.S. News and World Report awarded Massachusetts its top honor, citing the Commonwealth’s continuing academic achievement, innovative health care system, and strong economy in its ‘Best States’ ranking. The report evaluates each of the fifty states across seven categories: health care, education, opportunity, economy, infrastructure, crime and corrections, and government. Massachusetts ranked No. 1 in education and No. 2 in healthcare, and placed within the top ten for economy and crime and corrections.

“Massachusetts is a great place to live, work and raise a family because of the strength and character of all those who call the Commonwealth home,” Governor Charlie Baker said in a release. “Everyone should be proud that Massachusetts continues to lead the nation in health care access and public education for all citizens, and our administration will continue to build on these accomplishments to bring more economic success to every corner of Massachusetts.”

Home to some of the nation’s top public and charter schools, Massachusetts has topped many state education rankings over the last several years. A statistic worth noting is the performance of eighth grade students: Bay State eighth graders are No. 1 in math and No. 2 in reading nationally.

Almost half of Massachusetts residents have a college degree, and the state boasts an 86 percent high school graduation, according to the report.

The report also highlights health care accessibility across the Commonwealth. While Massachusetts ranks No. 2 in overall health care, it earns top marks in access to health care. Massachusetts has the lowest rate of uninsured residents in the United States.

“Massachusetts has passed health-care reform laws in every legislative session since 2006 and is a national leader in delivering innovative and high-quality health care,” Dr. Stuart H. Altman, health economist and chair of the Massachusetts Health Policy Commission, told U.S. News & World Report.

In fact, the federal Affordable Care Act, which was enacted in Congress in 2010, was modeled after the Massachusetts’ near-universal health care plan outlined in Chapter 58 of the Acts of 2006, according to Altman.

The Commonwealth’s modernizing economy continues to thrive as well, the report says. At 2.9 percent, Massachusetts’ unemployment rate is well below the 4.7 percent national average, and the state earned a No. 4 national ranking for jobs.

“Over the past two years we’ve added 120,000 jobs. Today more people are working than at any time in the past 20 years. And our welfare caseload has dropped 25 percent,” Gov. Charlie Baker said in his second State of the Commonwealth address in January. “The companies of the future are moving to Massachusetts, bringing millions in private investment. While new companies are born here every day.”

Massachusetts has the second-best business environment and patent creation in the country, falling only behind California. Both start-ups and established companies – like new Boston resident General Electric – can succeed in the Bay State’s prosperous business climate, according to the report.

While the state earns high marks overall, there is still room for improvement in a number of areas. Massachusetts ranks fifth for gender equality in the workplace and sixth in overall median household income.

U.S. News and World also notes issues in Massachusetts’ infrastructure–the Commonwealth ranks 45th in transportation and 47th for average commute time. This aligns with findings from another report, which identifies the MBTA as leading the nation in light-rail derailments.

However, as sports championships continue to pour in, all signs point to continued growth and a promising future the Commonwealth.

https://www.boston.com/news/local-news/2017/02/28/massachusetts-was-ranked-as-the-no-1-state-in-the-country

New Home Sales Post Highest Yearly Total Since 2007

New Home Sales Post Highest Yearly Total Since 2007

January 26, 2017

Sales of newly built, single-family homes rose 12.2 percent in 2016 to 563,000 units, the highest annual rate since 2007, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. New home sales fell 10.4 percent in December 2016 to a seasonally adjusted annual rate of 536,000 units.

“We are encouraged by the growth in the housing sector last year, and by the fact that builders increased inventory by 10 percent in anticipation of future business,” said Robert Dietz, chief economist of the National Association of Home Builders (NAHB). “NAHB’s forecast calls for continued upward momentum this year, with housing starts expected to rise 10 percent over the course of 2017.”

“To ensure sales continue to move forward in 2017, builders need to price their homes competitively, especially given that mortgage interest rates are expected to rise this year,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas.

The inventory of new home sales for sale was 259,000 in December, which is a 5.8-month supply at the current sales pace. The median sales price of new houses sold was $322,500.

Regionally, new home sales increased 48.4 percent in the Northeast. Sales fell 1.3 percent in the West, 12.6 percent in the South and 41 percent in the Midwest.

Source: National Association of Homebuilders

Best Takeout & Delivery Food in Ayer

Best Takeout & Delivery Food in Ayer

With the busy holiday season upon us, it may be time to consider calling in your dinner order for pick up or even possibly delivery right to your home.  Here are a few options locally.

Wok N Roll

Wok N Roll offers delicious dining, takeout and delivery anywhere in Ayer, MA.  Wok N Roll is a cornerstone in the Ayer community and has been recognized for its outstanding Chinese cuisine, excellent service and friendly staff.  This Chinese restaurant is known for its modern interpretation of classic dishes and its insistence on only using high quality fresh ingredients.

The Cottage Restaurant

Locally owned and operate, this restaurant on Main Street in Ayer, serves pizza, subs, ice cream, and more.  Grab a meal to go, or have it delivered  for free to your doorstep. Regardless of where you eat their food, you’ll know that it is homemade using fresh, high quality ingredients.

Parthenon Pizza

Parthenon Pizza has been providing excellent pizza and other food selections in Ayer, MA since 1976. They take pride in their homemade pizzas, and also offer lunch and dinner meals. Below are a few of the popular menu items.

·      Specialty pizzas

·      Grinders

·      Hot and cold subs

·      Steak subs

·      Pasta dishes

·      Salads

·      Homemade lasagna

·      Gyros

·      Calzones

·     

Devens Pizza & Deli

This Multi-Cuisine restaurant has a wide variety of pizza, deli meats, sandwiches, and salads.  Open for both dinner and lunch, Devens offers delivery service and takeout.