WASHINGTON (MarketWatch) – Sales of new single-family homes in the U.S. climbed to an annual rate of 372,000 in July from 359,000 in June, the Commerce Department said Thursday. Sales in June revised up from an original reading of 350,000. Economists polled by MarketWatch had forecast new home sales to rise to a seasonally adjusted 365,000 last month. The biggest increase took place in the Northeast, where sales rose nearly 77% after falling 55% in June. Sales also rose 7.7% in the Midwest. In the South, sales declined by 1.6% and purchases fell 0.9% in the West. New home sales are 25.3% higher compared to one year ago. The median price of new homes, meanwhile, dropped 2.1% to $224,200 last month from $229,100 in June. And the supply of new homes available for purchase on the U.S. market fell to 4.6 months at the current sales pace from 4.8 months in the prior month. The combination of faster sales and a slow rate of construction resulted in the number of new homes on sale falling to a record low of 142,000 in July.
Posts Tagged United States
Vail Mountain Names New Gondola “One” in Honor of Resort’s First Lift and Ongoing Commitment to Excellence
- New lift installed in conjunction with Vail’s 50th anniversary
- Cabin #50 will be gold as an ongoing reminder of Vail’s golden anniversary
- Gondola will open to the public on opening day of the 50th anniversary season, Friday, Nov. 16 following a formal dedication
VAIL, Colo. — Nov. 9, 2012 — Vail Mountain, the largest ski resort in the United States, announced today its new, state-of-the-art gondola, installed this summer in conjunction with the resort’s 50th anniversary celebration will be named “One.” The lift’s numerical designation will also be #1. The name is a tribute to Vail’s original gondola – the first in Colorado – and the first lift skiers took at the resort when it opened on Dec. 15, 1962 in the same location as the new gondola. The name is also a symbol of the resort’s ongoing commitment to making Vail the top mountain resort in the world.
One-hundred ten of the gondola’s 111 cabins were designed with a silver finish and full-length tinted windows while cabin #50 has been painted gold as an ongoing reminder that the lift is an integral part of Vail’s 50th anniversary celebration. A grand opening dedication will be held Friday, Nov. 16 at 8:30 a.m.
“Vail’s new gondola, One, is a tremendous step forward for both Vail Resorts and the ski and snowboard industry as well as an incredible investment in the guest experience,” said Chris Jarnot, senior vice president and chief operating officer of Vail Mountain. “We could not be more excited to officially dedicate and launch it on opening day of such a monumental season for Vail Mountain.”
The gondola, constructed by Leitner-Poma of America, is the first of its kind in North America. The 10-passenger cabins feature heated, cushioned seats and Wi-Fi access. It has a speed of 1,200 feet per minute and a ride time of just under eight minutes. It is the fastest gondola of its type in the world, creating a 40 percent increase in uphill capacity over the previous Vista Bahn Express Lift (#16), a high-speed quad chairlift constructed in 1985.
More than 70 percent of the lift was manufactured just two hours west of Vail at Leitner-Poma’s Grand Junction plant. The cabins and other portions of the gondola were constructed in Europe.
Welcome to my October Beaver Creek Real Estate Market Update. We had a strong third quarter in the BC market.
In addition to the latest BC real estate stats and trends, the market update contains stories on the condition of our overall Valley real estate, which is red-hot in the under $500k market.
Click on the links below to view the market update and the current BC condo and town home listings and 2012 sales.
Managing Broker, Prudential Beaver Creek
Director, Vail Board of Realtors
Prudential Colorado Properties
With Epic Discovery, summer in Vail will never be the same! Vail Resorts is creating an entirely new summer experience where adventure, education and nature balance and elevate one another.
Launching in 2014, Epic Discovery is designed to connect kids and families with our national forests in an active, fun and engaging way. Vail Resorts, the largest ski company in the United States, will work with The Nature Conservancy on interpretive aspects of the eco-discovery experiences. The proposal includes a number of new activities, Game Creek and Front Side Zip Line Tours, Adventure Ridge Challenge Tour, Micro-Interpretive Centers for Education, More Hiking and Mountain Biking Trails, Family Forest Adventure Park, Forest Flyer™,Game Creek Deck and Lookout Tower, Segway Trails and Tours. The extensive environmental and interpretive programming, offers everyone unique opportunities to try new outdoor activities, challenge themselves physically, discover an appreciation for nature and create lasting family memories.
Click below to visit the Epic Discovery Website:
By Jeffry Bartash
By Steve Goldstein
WASHINGTON (MarketWatch) — Sales of existing homes climbed 2.3% to a seasonally adjusted annual rate of 4.47 million in July, the National Association of Realtors reported Wednesday, coming in roughly in line with the 4.5 million consensus. The median price of existing homes climbed 9.4% year-on-year to $187,300, and inventories rose 1.3% to 2.4 million units, representing 6.4 months of supply.
Some Americans are still jittery over the housing market, but here are eight positive signs that should quell some of their fears.
- Housing prices are on the rise across the country.
- Foreclosures have slowed. Analysts suggest that as the supply of distressed homes slows, buyers will be forced into higher-price properties too.
- Inventories of for-sale homes on the market are decreasing. In fact, inventories of for-sale homes have dropped 24 percent from a year ago.
- Mortgage rates are at ultra record level lows, for those who can qualify
- Housing starts rose 6.9 percent in June. Also, existing-home sales were up 4.5 percent higher in June compared to one year ago.
- Home building stocks are on the rise.
- For investors who are buying homes, rents are soaring, allowing them to cash in on their investments. Rental prices are at a 10-year high as median units rent for $710 a month.
- Home affordability is at record highs for the median income family, due to falling home values and super low mortgage rates. In fact, a recent study found that it is cheaper to buy a home than rent in basically ever major city in the U.S. For those who buy, you can save the cost of renting by owning the home for five years or less.
But while the signs point to a housing market on the mend, some Americans still remain hesitant. Many Americans are still underwater on their mortgage, owing more on their home than it is currently worth. Also, the economy continues to weigh on the recovery, particularly a dampening employment outlook, which analysts see as tied to housing.
Still, The Wall Street Journal concludes in a recent article that if you take into account all the positive signs lately in the housing market, “housing presents an attractive long-term investment that should hold steady or even have upside surprise in the short term.”
Welcome to my July Homestead/South Forty/Old Edwards Estates Real Estate Market Update.
The 2012 Homestead market is tracking slightly above the 2011 market, indicative of an “L” shaped recovery. Click on the link below for the latest market update, current listings, and 2012 sales.
Managing Broker, Prudential Beaver Creek