Ecobank Transnational Incorporation (ETI.gh) Q12013 Interim Report

first_imgEcobank Transnational Incorporation (ETI.gh) listed on the Ghana Stock Exchange under the Banking sector has released it’s 2013 interim results for the first quarter.For more information about Ecobank Transnational Incorporation (ETI.gh) reports, abridged reports, interim earnings results and earnings presentations, visit the Ecobank Transnational Incorporation (ETI.gh) company page on AfricanFinancials.Document: Ecobank Transnational Incorporation (ETI.gh)  2013 interim results for the first quarter.Company ProfileEcobank Transnational Incorporation is a financial services institution offering retail, wholesale, investment and transactional banking services to government departments, financial institutions, multi-nationals, small- to medium-size enterprises, micro businesses and individuals in Africa and internationally. The banking group operates in the domestic, corporate and investment banking segments. Ecobank Transnational Incorporated offers a full-service product offering which ranges from current and savings accounts to business accounts and term deposits. Ecobank Transnational Incorporated also provides services for institutional banking; ranging from treasury and investment banking to commodity/trade finance, debt issuance and equity offerings, mergers and acquisitions and syndicated lending. The financial institution operates a network of approximately 1 200 branches and offices in the major towns and cities of Ghana. Its head office is in Lomé, Togo. Ecobank Transnational Incorporation is listed on the Ghana Stock Exchangelast_img read more

Standard Chartered Bank Botswana Limited (STANCH.bw) 2018 Annual Report

first_imgStandard Chartered Bank Botswana Limited (STANCH.bw) listed on the Botswana Stock Exchange under the Banking sector has released it’s 2018 annual report.For more information about Standard Chartered Bank Botswana Limited (STANCH.bw) reports, abridged reports, interim earnings results and earnings presentations, visit the Standard Chartered Bank Botswana Limited (STANCH.bw) company page on AfricanFinancials.Document: Standard Chartered Bank Botswana Limited (STANCH.bw)  2018 annual report.Company ProfileStandard Chartered Bank Botswana is a leading financial services company in Botswana; operating in the retail, corporate and institutional banking sector. The first branch was opened in 1897 which makes it the oldest financial institution in Botswana. Standard Chartered operates a network of 17 branches and agencies located in the major towns and cities of Botswana, and supported by a Loan Centre and Customer Call Centre. The retail banking division offers a range of transactional products and services, as well as solutions for wealth management and SME banking and lending. The Corporate and Institutional banking division caters for local businesses as well as multi-national corporations; with a product portfolio that includes cash management, trade services, syndications and lending, treasury services, foreign exchange, currency options, government bonds, high-yield deposits and liquidity management products. Standard Chartered Bank is highly respected for its adherence to corporate government standards and its commitment to uplift communities in Botswana through a dedicated community programme.last_img read more

coopers beach / Dorrington Architects & Associates

first_img “COPY” Year:  Year:  CopyHouses•Mangonui, New Zealand Save this picture!© Emma-Jane Hetherington+ 13 Share Photographs Area:  277 m² Area:  277 m² Year Completion year of this architecture project ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/425962/coopers-beach-dorrington-architects-and-associates Clipboard coopers beach / Dorrington Architects & AssociatesSave this projectSavecoopers beach / Dorrington Architects & Associates ArchDaily “COPY” Projects New Zealand 2007 Houses coopers beach / Dorrington Architects & Associates 2007 photographs:  Emma-Jane HetheringtonPhotographs:  Emma-Jane HetheringtonSave this picture!© Emma-Jane HetheringtonText description provided by the architects. This beach house has an overall feeling of simple restraint. Modest materials used in deceptively simple ways manipulate site, space and light to organise the “bach” in a straightforward, playful and inventive way. The surprise placement of circulation along the perimeter appears to have been the key move in unlocking the architectural solution. (Judges comment)Save this picture!© Emma-Jane HetheringtonLocated in a beachside subdivision in the far north, the site is almost flat, with the beach a stone’s throw away directly to the north. Due to the “suburban” nature of this site it was extremely important to incorporate as much privacy as possible, without compromising the available views and sun. The plan opens up to the north and west, capturing and maximising the best of both of these. Save this picture!© Emma-Jane HetheringtonThe house (277m2 plus courtyards) consists of four main elements – a bedroom block, living pavilion, garage and the corridor that links these.Save this picture!© Emma-Jane HetheringtonThe bedroom block contains a bunkroom, a rumpus room/fourth bedroom and the bathroom in the basement. The bathroom’s concrete floor and block walls reference camping ablution blocks. Two main bedrooms, both with ensuite bathrooms, occupy the middle floor and on the top floor is a games-room that doubles as a second living room. Save this picture!© Emma-Jane HetheringtonThe living pavilion sits apart to the north of the bedroom block and references a campsite in homage to the campground that occupied this area for many years. Two sides of the pavilion completely open up evoking a sense of casual living associated with the traditional Kiwi-family camping holiday, while windows to the other sides further bring the outside in. Save this picture!© Emma-Jane HetheringtonThe garage is a bunker half buried in the site, grounding the building and in contrast to the light and airiness of the living space. Sunk into the ground the same distance the living pavilion is raised up, the garage and basement of the bedroom block are linked to the rest of the house by the polycarbonate-clad corridor. This was conceived as a breezeway and works more as an exterior space, connecting the various elements of the house.Save this picture!© Emma-Jane HetheringtonLandscaping has been kept to a minimum and is integrated into the house plan with gabion walls providing separation from neighbouring sites and act as retaining walls for the raised and sunken gardens and the lawn ramp that rolls from the western side of the living pavilion.Save this picture!© Emma-Jane HetheringtonThe brief involved creating a large holiday home suitable for short and long term guests, ensuring flexibility was important in the planning. The architect has provided two main bedrooms with ensuite bathrooms, a bunkroom to sleep eight, two courtyards and several living spaces that can be converted to sleeping areas or provide separation and privacy for guests. Save this picture!© Emma-Jane HetheringtonThe material palette reflects the tight budget of the project and also helps convey the camping reference. Bondor panels are used for the sloped roofs and in turn provide the ceilings. Clear-sealed concrete block and eterpan, corrugated polycarbonate sheet and plywood cladding, meranti and hoop pine ply cabinetry, and polished concrete floors provide a rustic natural palette. In practical terms these materials are all hard wearing and ensure easy care, perfect for a family beach house that will also function as a rental property.Save this picture!PlanProject gallerySee allShow lessTime-Lapse: One World Trade CenterArticlesZero Energy House Lokeren / BLAF ArchitectenSelected Projects Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/425962/coopers-beach-dorrington-architects-and-associates Clipboard Architects: Dorrington Architects & Associates Area Area of this architecture project CopyAbout this officeDorrington Architects & AssociatesOfficeFollow#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesMangonuiHousesNew ZealandPublished on September 11, 2013Cite: “coopers beach / Dorrington Architects & Associates” 11 Sep 2013. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Read commentsBrowse the CatalogShowershansgroheShower MixersVinyl Walls3MExterior Vinyl Finish – DI-NOC™ Abstract EarthPartitionsSkyfoldMarkerboard Finish for Folding WallsPanels / Prefabricated AssembliesKingspan Insulated PanelsInsulated Wall Panels – Designwall R-seriesWoodBruagRoom Acoustics – Interior Cladding PanelsEnclosures / Double Skin FacadesIsland Exterior FabricatorsCurtain Wall Facade SystemsConcreteKrytonCrystalline Waterproofing – KIMBricksNelissenSpecial Bricks – Slips and HalvesCeramicsTerrealTerracotta cladding in Le TrèfleEnclosures / Double Skin FacadesFranken-SchotterFacade System –  LINEASideboardsUSMLow Shelving – HallerTable LampsLeds-C4Lighting – ElampMore products »Read commentsSave世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

More than 500 organisations sign up for November’s #iwill campaign

first_img  130 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis15 More than 500 organisations sign up for November’s #iwill campaign Tagged with: Volunteering Youth Events planned so far include Girlguiding South West England, which will be using its Rainbows, Brownies , Guides, and The Senior Section meetings to discuss and take part in social action during the week, Surrey Youth Focus, which will be promoting the week and encouraging voluntary youth organisations all over Surrey to promote their Young People’s Youth Social Action, and Dover District Council, which is holding am #iwill show and tell event to enable community organisations and young people to meet and discuss how to get involved in their local community. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis15  129 total views,  1 views today #iwillWeek, which promotes social action among 10-20 year olds takes place from 21st-25th November this year.This is the third anniversary of the campaign, which was launched in 2013 at Buckingham Palace by The Prince Of Wales alongside the Prime Minister and other party leaders, and aims to increase UK youth social action participation from 40% to 60% of 10-20 year olds by 2020. The campaign asks young people to make a pledge of activity.This year, #iwill is asking its partners to celebrate youth social action with an #iwill Show & Tell to show how young people are making a difference across their communities and tell other people about the benefits that can come from saying #iwill. So far more than 500 business, education, and voluntary sector partners are taking part with around 122 events to involve young people currently planned for the week. Melanie May | 14 November 2016 | News About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com.last_img read more

Farmers the Focus at National Cover Crop Conference in Indy Next…

first_img Farmers the Focus at National Cover Crop Conference in Indy Next Week Natonal-cover-crop-conferenceOne of the top states in the country for use of cover crops is hosting the National Conference on Cover Crops and Soil Health in one week. The conference is right here in Indiana December 7 and 8 at the Sheraton Indianapolis Hotel at Keystone Crossing. The Soil and Water Conservation Society is hosting the conference and that group’s CEO Clare Lindahl says there will be a wide variety of presenters. But the stars are farmers.“When we sought to put together this agenda, the committee stepped back looked at what all the questions are that are being asked about cover crops right now,” she said. “With the agenda we sought to answer all of them. We answered the questions for the farmer who has never used cover crops before, like how do I pick my species, how do I manage them, to the farmer who has a lot of experience and maybe wants to diversify or do something a little bit different. We have a lot of farmer speakers from a lot of different regions and states because we know that they work differently in different states. Those are going to be the stories I think people are really anxious to hear about. How are they really using them?”New research and whether you can make a profit with cover crops will be covered.“We’ve got speakers from agri-business talking about how there’s cash in cover crops. We have speakers in academia sharing the latest and greatest research on cover crops.”The more you see green fields around the state after harvest, the more you know farmers are adding cover crops to their lineup. Lindahl told HAT it’s all about roots in the ground year-round.“When we pull that crop off and we can put that cover crop on we can protect our soil from erosion. We can hold on to our nutrients. We can build our soil health. Cover crops have lots of benefits, and as we realize those benefits and share the stories about how to manage them to be beneficial, they get adopted more and more. I think it’s a great sign of what’s to come and continue.”Some of the presentations are: Growing a Revolution – Bringing Our Soil Back to Life –David Montgomery, University of Washington; Farmer Plenary Panel: Experiences with Cover Crops and Soil Health – Dan DeSutter, Indiana Farmer; Trey Hill Maryland Farmer; Jimmy Emmons, Oklahoma Farmer; Moderator: Wayne Honeycutt, Soil Health Institute; Top Ten Ways Cover Crops Build Soil Health Rob Myers, Sustainable Agriculture and Research Education.Learn more at the conference website here. SHARE Facebook Twitter Home Indiana Agriculture News Farmers the Focus at National Cover Crop Conference in Indy Next Week By Andy Eubank – Nov 29, 2017 SHARE Facebook Twitter Previous articleLiberty Technology Rates High in Grower SatisfactionNext articleRyan Martin’s Indiana Ag Forecast for November 29, 2017 Andy Eubanklast_img read more

Appeal by wife of Japanese journalist threatened with execution

first_img The wife of Japanese journalist Kenji Goto, an Islamic State hostage in Syria who is facing the possibility of imminent execution, has issued a public statement for the first time, appealing to the Jordanian and Japanese governments to try to obtain his release as soon as possible. News to go further January 29, 2015 – Updated on January 20, 2016 Appeal by wife of Japanese journalist threatened with execution Help by sharing this information News February 3, 2021 Find out more News RSF_en Wave of Kurdish arrests of Syrian journalists SyriaMiddle East – North Africa March 12, 2021 Find out more Reporters Without Borders urges the Japanese and Jordanian authorities to take all possible measures to ensure that Islamic State does not carry out its ultimatum.Goto’s wife, Rinko Jogo, released her appeal today through the Rory Peck Trust, a London-based NGO that defends and helps freelance journalists. (See the entire message).“My husband and I have two very young daughters,” Jogo wrote. “Our baby girl was only three weeks old when Kenji left. I hope our oldest daughter, who is just two, will get to see her father again. I want them both to grow up knowing their father.“My husband is a good and honest man who went to Syria to show the plight of those who suffer. I believe that Kenji may have also been trying to find out about Haruna Yukawa’s situation. I was extremely saddened by the death of Haruna and my thoughts go out to his family. I know all too well what they are going through.”Jogo quotes the message she received yesterday from Islamic State. “You must publicize and expose this message to the world media now! Otherwise Kenji will be next,” IS wrote to her, presenting a new ultimatum to the Jordanian and Japanese governments, which are working together on the issue.Jogo added: “I fear that this is the last chance for my husband and we now have only a few hours left to secure his release and the life of Lt. Mu’ath al-Kaseasbeh. I beg the Jordanian and Japanese governments to understand that the fates of both men are in their hands.”Reporters Without Borders appeals again to the two governments to do all they can to free Goto. Ranked 177th out of 180 countries in the Reporters Without Borders press freedom index, Syria is the world’s deadliest country for professional and citizen-journalists, who try to prevent it from turning into a news and information “black hole.” SyriaMiddle East – North Africa Toll of ten years of civil war on journalists in Syria News Organisation Receive email alerts Follow the news on Syria Damascus TV presenter arrested under cyber-crime law March 8, 2021 Find out morelast_img read more

U-turn motorists could pay hefty toll

first_imgTwitter Facebook Advertisement NewsLocal NewsU-turn motorists could pay hefty tollBy admin – April 14, 2011 845 Previous articleScarlets next up for MunsterNext articleYoung Munster face Cork Con in Semi Final admin WhatsAppcenter_img Print Linkedin Email Behaviour described as ‘irresponsible’FOOTAGE of motorists from the Shannon direction reversing back onto the Clonmacken roundabout, just before the entrance to the Tunnel toll plaza, has been handed over to gardaí.Drivers have been observed conducting the dangerous manoeuvre of reversing in the hard shoulder to take an alternative route, not wanting to pay the toll charge.Sign up for the weekly Limerick Post newsletter Sign Up Cameras dotted along the new road network have also captured drivers performing U-turns and driving in the wrong direction.The footage was sent to the Road Safety Authority by Tunnel management, prompting a national campaign to educate motorists against such irresponsible driving.Tunnel operator Direct Route’s General Manager, Tom King, told the Limerick Post that he was now working with the RSA to introduce measures to prevent such behaviour.“We have had incidents where people drove onto the approach roads at Rosbrien, the Ennis Road junction and Clonmacken, then changed their minds and did a U-turn, driving in the wrong direction.“Motorists were getting to know the route, which explains most of this, but we are still seeing ‘ghost drivers’ exiting the roundabout at Clonmacken to use the tunnel, seeing the toll plaza and reversing back on to the roundabout.“This driver behaviour is completely irresponsible and dangerous”.“Also, if there is an accident and cars are queuing up behind it, impatient drivers have turned around and gone back the way they came, on a one-way road”.Mr. King explained that the gardaí were taking these matters very seriously.“There will be a court appearance and possibly a driving ban for those prosecuted.“The tunnel road is one of the safest in the country because of our cameras, and the automatic detection system that alerts gardaí to incidents of dangerous driving or accidents”.Mr. King met with the RSA this Tuesday and revealed that stringent new measures to prevent dangerous driver behaviour are to be introduced in the coming months.last_img read more

The Next Generation: Attracting New Blood to the Mortgage Industry

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. The mortgage industry is a multi-trillion-dollar industry consisting of over 300,000 employees, according to the most recent data from the Bureau of Labor Statistic. But in an industry with the professionals averaging their ages in the 50’s, what are businesses in the mortgage and housing sector doing to attract millennials into the workforce and pass on the industry to the next generation of professionals?Freddie Mac EVP and Chief Administrative Officer, Jerry Weiss says, “Freddie Mac places a high priority on engaging millennials in the workplace – it’s just smart business. Effectively harnessing their talent and skills makes us a stronger company, drives innovation, and helps us more effectively respond to changing needs in the marketplace.”Michele Espada, Freddie Mac recruiting and training director shared that hiring and retaining millennials requires a continually evolving mix of ingredients.“For professionals just starting out, our college analyst programs offer a strong introduction to core business areas, and we’re always encouraging employees to look for new internal opportunities that will expand their breadth of experience,” says Espada. “We also offer year-round learning opportunities through Freddie Mac University, as well as career-advancing professional certifications and tuition assistance. And to round out the mix, we’re a flexible workplace and support technology to better serve how and where millennials – and really all employees – work today.”Likewise, Fannie Mae says that they are constantly working to recruit and retain young talent that comes their way. A large part of this comes from their summer internship programs and Associate Program. These were originally division-specific programs that allowed entry-level talent to rotate through four sectors for a duration of two-years with Finance and O&T being the divisions with the largest number of participants. In addition to on-the-job training, Fannie Mae associates receive training on soft skills and leadership. As they near the end of the two- year program, Fannie Mae’s MyCareer team will work with them to identify a new full-time position within the Fannie Mae organization. Fannie Mae shared that starting with the cohort they hire in August 2017, though, the program will be enterprise-wide and participants will rotate across the company.Tim Rood, Chairman of The Collingwood Group, shares that emerging Fintech companies and nonbank lenders, including marketplace lenders, are getting traction with young IT professionals seeking to enter into the housing finance sector.“As the housing finance market becomes more technology enabled and moves more online it’s professional appeal to Millennials will grow proportionately,” said Rood.Nima Ghamsari, CEO and Co-founder of Blend, a Silicon Valley technology company powering the next generation of mortgage lending, shared that millennials have an unprecedented selection of fun, interesting, and innovative jobs to choose from. “While mortgages may seem like an industry that still operates on paper, faxes and scanners with pre-dot-com technology, the reality is the industry is quickly realizing the need for a technological and operational overhaul. Young professionals starting their careers now have the chance to play a huge role in transforming a massive, trillion-dollar industry that is likely to touch all of our lives at some point or another.” Sign up for DS News Daily Subscribe Share Save Related Articles Tagged with: Blend Fannie Mae Freddie Mac Millennials Mortgage Industry The Collingwood Group Demand Propels Home Prices Upward 2 days ago Blend Fannie Mae Freddie Mac Millennials Mortgage Industry The Collingwood Group 2016-08-22 Kendall Baer About Author: Kendall Baer August 22, 2016 1,894 Views in Daily Dose, Featured, Newscenter_img  Print This Post The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Freddie Mac Preps for Issuance of Securities Under CSP Next: Daniel Mudd, Ex-Fannie Mae CEO, Settles with SEC Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Next Generation: Attracting New Blood to the Mortgage Industry Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / The Next Generation: Attracting New Blood to the Mortgage Industry The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Banks Report: ‘Better-Than-Expected’ Q3 Results

first_img Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2020-10-15 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Banks Report: ‘Better-Than-Expected’ Q3 Results About Author: Christina Hughes Babb Previous: Resurrecting Zombie Homes Next: Gary Keller steps down as KW CEO The major banks this week reported Q3 returns. For top three U.S. banks—Bank of America, Wells Fargo, and Goldman Sachs—NASDAQ summarized that ” results were notably better than expected” but “mixed.”JPMorgan Chase also reported better financial performance than was expected, and less-than-expected losses.And Citigroup reported Q3 earnings that beat profit and revenue estimates.Michael Corbat, Citigroup’s CEO, said, “We continue to navigate the effects of the COVID-19 pandemic extremely well. Credit costs have stabilized; deposits continued to increase; and revenues are up 3% year-to-date. Our Institutional Clients Group again had very strong performance, especially in Markets, Investment Banking and the Private Bank. The backbone of our global network, Treasury and Trade Solutions experienced strong client engagement in the face of low interest rates. Although Global Consumer Banking revenues remained lower as a result of the pandemic, we did see higher activity in our mortgage and wealth management products.”Goldman Sachs, as the NASDAQ Banks Report put it, “posted a return to its old big-winning ways, blowing the doors off Q3 earnings.””Our ability to serve clients who are navigating a very uncertain environment drove strong performance across the franchise, building off a strong first half of the year. As our clients begin to emerge from the tough economy brought on by the pandemic, we are well positioned to help them recover and grow, particularly given market share gains we’ve achieved this year,” said Goldman Sachs CEO David Solomon.Bank of America reported coming up short and Wells Fargo reportedly missed on its earnings.Wells Fargo’s CEO Charlie Scharf said, “Our third quarter results reflect the impact of aggressive monetary and fiscal stimulus on the US economy. Strong mortgage banking fees, higher equity markets, and declining sequential charge-offs positively impacted our results, while historically low interest rates reduced our net interest income and our expenses continued to remain elevated. We continue to provide support for our customers having helped more than 3.2 million consumers and small businesses by deferring payments and waiving fees.” Related Articles in Daily Dose, Featured, News The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Banks Report: ‘Better-Than-Expected’ Q3 Results October 15, 2020 1,341 Views Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Sign up for DS News Daily Subscribelast_img read more

Pending Sales Offset by Tight Home Supply

first_img Danielle Hale Lawrence Yun National Association of Home Builders (NAHB) National Association of Realtors (NAR) Pending Home Sales Pending Home Sales Index (PHSI) Realtor.com Redfin 2021-05-27 Eric C. Peck Tagged with: Danielle Hale Lawrence Yun National Association of Home Builders (NAHB) National Association of Realtors (NAR) Pending Home Sales Pending Home Sales Index (PHSI) Realtor.com Redfin About Author: Eric C. Peck in Daily Dose, Featured, Journal, Market Studies, News Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. The Best Markets For Residential Property Investors 2 days ago Pending Sales Offset by Tight Home Supply 3 days ago 268 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Pending Sales Offset by Tight Home Supply Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Related Articles Previous: Fannie Mae Announces New EVP, Head of Single-Family Next: Is Rise in Forbearance Volume Cause for Concern? Subscribe The National Association of Realtors (NAR) is reporting that pending home sales took a step back in April, dropping over March’s total, due in part to the record low inventory of homes available in Q1.NAR’s Pending Home Sales Index (PHSI) fell 4.4% to 106.2 in April. Year-over-year, signings jumped 51.7% as last year’s pandemic-related shutdowns slumped sales to an all-time low. An index of 100 is equal to the level of contract activity in 2001.”Contract signings are approaching pre-pandemic levels after the big surge due to the lack of sufficient supply of affordable homes,” said Lawrence Yun, NAR’s Chief Economist. “The upper-end market is still moving sharply, as inventory is more plentiful there.”NAR reported low Q1 inventory, with the rising cost of materials and lack of skilled laborers a concern among new home builders. Data from the National Association of Home Builders (NAHB) found that the price of lumber has tripled over the past year, forcing the price of a new single-family home to rise $35,872 on average, and thus impeding the nation’s home supply.Regionally, the Northeast PHSI declined 12.9% to 85.3 in April, a 96.5% jump from a year ago. In the Midwest, the Index increased 3.5% to 101.1 last month, up 39.4% from April 2020. Pending home sales transactions in the South fell 6.1% to an Index of 128.9 in April, up 45.3% from April 2020. The Index in the West decreased 2.6% in April to 92.0, up 57.3% from a year prior.”The Midwest region, which has the most affordable homes, was the only region to notch a gain in the latest month,” Yun said. “Some buyers from the expensive cities in the West and Northeast, who have the flexibility to move and work from anywhere, could be opting for a larger-sized home at a lower price in the Midwest.”Yun forecasts an improvement in housing supply as soon as autumn. He points to an increase in the comfortability of those listing, as well as a rise in sellers after the conclusion of the eviction moratorium or as they exit forbearance.As of now, sellers are continuing to reap profits on home sales, with half of the homes sold nationwide going for more than their list price during the four-week span ending May 16, a 23% rise from the same period year-over-year. According to Redfin, over that same four-week span, home prices hit a record high of $352,975, up 24% year-over-year. Asking prices increased to $358,975, also a record high. Homes recorded a record-high 101.7% average sale-to-list price ratio, which measures how close homes are selling to their asking prices, up 3.2 percentage points year-over-year, meaning the average home sold for 1.7% more than its asking price.“Home sellers know that they have the upper hand, and are using it to ask for high prices expecting that buyers will meet their demands,” said Realtor.com Chief Economist Danielle Hale. “So far, it appears they’re right. Many recent buyers report paying even more than asking, just to win the offer, but still being happy with their purchase. Despite today’s slip in pending home sales, with more homeowners planning to list a home for sale during the next 12 months than we’d typically expect, we could see a roughly steady pace of home sales, and satisfied new homeowners, in the months ahead.” Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more