Speed of January Sales Felt More Like Spring Selling Season

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Speed of January Sales Felt More Like Spring Selling Season

February 2018 RE/MAX National Housing Report on MLS Data from 53 Metro Areas

PR Newswire

DENVER, Feb. 16, 2018 /PRNewswire/ – The record speed of January home sales may signal that buyers aren’t waiting around for the typical spring selling season to begin. Despite home sales being down 2.8% year-over-year, the February RE/MAX National Housing Report shows homes sold in a mere 60 days last month, marking the fewest Days on Market of any January in the nine-year history of the report. To access the housing report infographic, visit: https://rem.ax/2GdTVcL.

www.remax.com

Days on Market typically decline each month leading into the heart of the spring and summer buying season in July and start increasing monthly as fall progresses into winter.

“We recently saw the groundhog predict six more weeks of winter, but January housing numbers are telling a different story,” said RE/MAX CEO Adam Contos. “It looks like the spring selling season may have arrived early because home buyers are not slowing down. The speed of this market is on pace with what we saw in the prime of the 2017 selling season.”

The Median Sales Price of $224,000 also set a January record — up 6.7% year-over-year. Out of 53 markets, 51 posted gains, marking January as the 22nd consecutive month of year-over-year price increases dating back to April 2016.

Closed Transactions

Of the 53 metro areas surveyed in January 2018, the overall average number of home sales decreased 27.4% compared to December 2017 and decreased 2.8% compared to January 2017. Twenty of the 53 metro areas experienced an increase in sales year-over-year including, Milwaukee, WI, +13.6%, Albuquerque, NM, +12.8%, Kansas City, MO, +12.5%, and Boise, ID, +12%.

Median Sales Price – Median of 53 metro median prices

In January 2018, the median of all 53 metro Median Sales Prices was $224,000, down 4.7% from December 2017 but up 6.7% from January 2017. Billings, MT, was the only metro area to see a year-over-year decrease in Median Sales Price at -6.4%. Eleven metro areas increased year-over-year by double-digit percentages, with the largest increases seen in Boise, ID, +18.7%, Las Vegas, NV, +16.2%, San Francisco, CA, +14% and Orlando, FL, +13.8%. 

Days on Market – Average of 53 metro areas

The average Days on Market for homes sold in January 2018 was 60, up three days from the average in December 2017, and down six days from the January 2017 average. The metro areas with the lowest Days on Market were San Francisco, CA, at 31, Omaha, NE, at 34 and Nashville, TN at 36. The highest Days on Market averages were in Augusta, ME, at 109, Chicago, IL, at 96 and Hartford, CT, at 93. Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed.

Months Supply of Inventory – Average of 53 metro areas

The number of homes for sale in January 2018 was down 4.8% from December 2017, and down 14.8% from January 2017. Based on the rate of home sales in December, the Months Supply of Inventory decreased to 3.4 from December 2017 at 3.7, as well as decreased compared to January 2017 at 3.8. A 6.0-months supply indicates a market balanced equally between buyers and sellers. In January 2018, 49 of the 53 metro areas surveyed reported a months supply at or less than 6.0, which is typically considered a seller’s market. The metro areas that saw a months supply above 6.0, which is typically considered a buyer’s market, were Birmingham, AL, at 8.2, Augusta, ME, at 7.5, Miami, FL, at 7.1 and New Orleans, LA, at 6.8. The markets with the lowest Months Supply of Inventory continued to be in the west with Denver, CO, San Francisco, CA and Seattle, WA at 1.1.

Contact
For specific data in this report or to request an interview, please contact newsroom@remax.com.

About the RE/MAX Network:

RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 115,000 agents provide RE/MAX a global reach of more than 100 countries and territories. Nobody sells more real estate than RE/MAX, when measured by residential transaction sides. RE/MAX, LLC, one of the world’s leading franchisors of real estate brokerage services, is a wholly-owned subsidiary of RMCO, LLC, which is controlled and managed by RE/MAX Holdings, Inc. (NYSE: RMAX). With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $157 million for Children’s Miracle Network Hospitals® and other charities. For more information about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about RE/MAX, please visit www.remax.com/newsroom.

Description

The RE/MAX National Housing Report is distributed each month on or about the 15th. The first Report was distributed in August 2008. The Report is based on MLS data in approximately 53 metropolitan areas, includes all residential property types, and is not annualized. For maximum representation, many of the largest metro areas in the country are represented, and an attempt is made to include at least one metro from each state. Metro area definitions include the specific counties established by the U.S. Government’s Office of Management and Budget, with some exceptions.

Definitions

Transactions are the total number of closed residential transactions during the given month. Months Supply of Inventory is the total number of residential properties listed for sale at the end of the month (current inventory) divided by the number of sales contracts signed (pended) during the month. Where “pended” data is unavailable, this calculation is made using closed transactions. Days on Market is the number of days that pass from the time a property is listed until the property goes under contract for all residential properties sold during the month. Median Sales Price is the median of the median sales prices in each of the metro areas included in the survey.  

MLS data is provided by contracted data aggregators, RE/MAX brokerages and regional offices. While MLS data is believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Every month the RE/MAX National Housing Report re-calculates the previous period’s data to ensure accuracy over time. All raw data remains the intellectual property of each local MLS organization.

 

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SOURCE RE/MAX, LLC

LIU Hornstein Center Poll Shows Overwhelming Support for Infrastructure Investment, Disagreement on How to Pay for It

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LIU Hornstein Center Poll Shows Overwhelming Support for Infrastructure Investment, Disagreement on How to Pay for It

72 Percent of Americans Support Greater Investment in Infrastructure

PR Newswire

BROOKVILLE, N.Y., Feb. 16, 2018 /PRNewswire-USNewswire/ — A new Long Island University Hornstein Center for Policy, Polling and Analysis poll shows that Americans overwhelmingly support a greater investment in infrastructure and believe that infrastructure spending stimulates the economy.  However, Americans are far more mixed on which level of government is primarily responsible for infrastructure and the role of public-private partnerships.

Poll on Infrastructure

“The American people are saying loudly and clearly they want their elected leaders to spend more on infrastructure,” said Dr. Edward Summers, Fellow at the Hornstein Center.  “They are not wedded to how that spending is done, and see a role at all levels of government as well as the private sector.”

The national poll showed that 72 percent of Americans agree that more investment in infrastructure is needed.  This is not surprising given that just 16 percent describe the current state of infrastructure as “excellent or good” while 75 percent describe America’s infrastructure as “fair or poor.”  There is slight partisan disagreement with 27 percent of Republicans describing the state of infrastructure as poor, while 50 percent of Democrats feel that way.

As Congress prepares to debate infrastructure and the Trump Administration’s proposal which calls for almost all of the proposed $1.5 Trillion investment to be funded by state and local government, there are stark differences on where Americans see the responsibility to fund infrastructure.

An almost equal 40 percent of Americans believe that the Federal government is primarily responsible for funding infrastructure versus 39 percent of Americans who believe that State or Local governments are primarily responsible with the remainder having no opinion or saying private investors.  Similarly, 42 percent of Americans say that projects should be funded through Public-Private Partnerships, while 35 percent believe they should be funded soley through government, with just 6 percent saying that projects should solely be funded through the private sector.

“Americans support government infrastructure spending and generally prefer a role for the private sector,” said Dr. Edward Summers, Fellow at the Hornstein Center.  “As lawmakers debate this issue, there is clearly room for agreement. “

While 78 percent of Americans overwhelmingly agree that infrastructure spending can stimulate the economy, just 44 percent agree that infrastructure spending creates sustainable job growth while an equal number of respondents believe that the jobs created by infrastructure spending is not sustainable.

The findings are based on a published public opinion poll conducted from February 14-15, 2018 of 1037 Americans.

Dr. Summers, who obtained his Ph.D. in Public Policy, is a Fellow at the Hornstein Center. His career includes experience in public policy, higher education, and opinion research.


Long Island University


Steven S. Hornstein Center for Policy, Polling, and Analysis

National Survey


February 14-15, 2018


Q1. Who is primarily responsible for funding infrastructure projects?

Answer Choices

Responses

The federal government;

40.12%

416

State governments;

31.92%

331

Local governments;

7.52%

78

Private investors;

3.86%

40

No Opinion;

16.59%

172


Q2. Can large infrastructure projects stimulate the economy?

Answer Choices

Responses

Yes, large infrastructure projects can stimulate the economy;

77.72%

806

No, large infrastructure projects cannot stimulate the economy;

7.81%

81

No Opinion;

14.46%

150


Q3. Can large infrastructure projects stimulate sustainable job growth?

Answer Choices

Responses

Yes

43.78%

454

Yes, but it’s not sustainable

37.61%

390

No, large infrastructure projects do not stimulate job growth;

6.36%

66

No Opinion;

12.25%

127


Q4. What is your opinion of the current state of America’s infrastructure?

Answer Choices

Responses

Excellent;

2.60%

27

Good;

13.31%

138

Fair;

38.77%

402

Poor;

35.97%

373

No opinion;

9.35%

97


Q5. Is more investment in infrastructure needed?

Answer Choices

Responses

Yes, more investment in infrastructure is needed;

71.84%

745

No, more investment in infrastructure is not needed;

4.82%

50

The current rate of spending on infrastructure is appropriate;

8.49%

88

No Opinion;

14.85%

154


Q6. How should infrastructure projects be funded?

Answer Choices

Responses

Solely through government funding;

34.91%

362

Solely through private funding;

6.46%

67

Public-private partnerships;

41.56%

431

No Opinion;

17.07%

177


Q7. With what political party do you primarily identify?

Answer Choices

Responses

I primarily identify with the Republican party;

24.11%

250

I primarily identify with the Democratic party;

31.73%

329

I primarily identify with another party;

5.59%

58

I do not primarily identify with one political party;

24.59%

255

Unsure;

2.89%

30

No Opinion;

11.09%

115


Q8. Are you registered to vote?

Answer Choices

Responses

Yes;

85.82%

890

No, but I plan to register before the next election;

4.15%

43

No, and I do not plan to register;

6.65%

69

Unsure;

3.38%

35


Q9. Age

Answer Choices

Responses

18-29

18.76%

194

30-44

26.98%

279

45-60

31.33%

324

> 60

22.92%

237


Q10. Gender

Answer Choices

Responses

Male

46.71%

483

Female

53.29%

551


Q11. Household Income

Answer Choices

Responses

$0-$9,999

6.96%

72

$10,000-$24,999

8.99%

93

$25,000-$49,999

18.76%

194

$50,000-$74,999

15.18%

157

$75,000-$99,999

11.80%

122

$100,000-$124,999

8.61%

89

$125,000-$149,999

5.61%

58

$150,000-$174,999

3.38%

35

$175,000-$199,999

2.51%

26

$200,000+

5.22%

54

Prefer not to answer

12.96%

134


Q12. Region

Answer Choices

Responses

New England

5.29%

54

Middle Atlantic

11.66%

119

East North Central

16.85%

172

West North Central

7.25%

74

South Atlantic

18.02%

184

East South Central

4.51%

46

West South Central

9.89%

101

Mountain

8.52%

87

Pacific

18.02%

184


Q13. Device Type

Answer Choices

Responses

iOS Phone / Tablet

24.37%

252

Android Phone / Tablet

20.70%

214

Other Phone / Tablet

0.00%

0

Windows Desktop / Laptop

44.68%

462

MacOS Desktop / Laptop

8.41%

87

Other

1.84%

19

 

Long Island University (PRNewsfoto/Long Island University)

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SOURCE Long Island University

Global Automotive Piston Market 2017-2021 – Increasing Introduction of Innovative Engines is Trending

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Global Automotive Piston Market 2017-2021 – Increasing Introduction of Innovative Engines is Trending

PR Newswire

DUBLIN, Feb. 16, 2018 /PRNewswire/ —

The “Global Automotive Piston Market 2017-2021” report has been added to ResearchAndMarkets.com’s offering.

Research and Markets Logo

Global automotive piston market to grow at a CAGR of 2.06% during the period 2017-2021.

The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

The latest trend gaining momentum in the market is Increasing introduction of innovative engines such as Renault Powerful. The approach of Renault on cleaner and efficient vehicles is quite new. The company has developed a new two-stroke engine named Powerful that stands for powertrain for the future light-duty vehicle. The engine can also be used in cars and light trucks. It is a two-cylinder engine and not the conventional four-cylinder engine from Renault.

According to the report, one of the major drivers for this market is Increasing demand for vehicles. The global automotive industry is growing at a significant rate. This is attributed to the high demand for passenger cars, specifically from emerging economies such as China, India, and Brazil. These regions have shown significant economic growth over the past few years. The market growth in these regions has been dynamic due to industrialization and global trade activity, especially in Brazil, Russia, India, and China (BRIC) countries. With the increasing number of passenger vehicles in these countries, the automotive piston market will also grow.

Further, the report states that one of the major factors hindering the growth of this market is High requirement for engine downsizing. The US Environmental Protection Agency (US EPA) along with the National Highway Traffic Safety Administration (NHTSA) is working toward a status that enables reduced GHG emissions and better fuel efficiency for vehicles and engines. This plan includes all types of vehicles from entry-level passenger cars to heavy-duty trucks. To meet the regulations on emissions by different governments and to meet the fuel efficiency demands, the automakers followed the procedure of engine downsizing. Downsizing of the engine can be done in two ways: by reducing the dimension of the cylinders and by reducing the number of cylinders.

Key Vendors

  • Rheinmetall Automotive
  • AISIN SEIKI
  • MAHLE
  • Federal-Mogul

Other Prominent Vendors

  • KS Kolbenschmidt US
  • TIK Piston Taiwan
  • Menon Piston
  • Wiseco

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope of the Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Segmentation by Application

Part 07: Geographical Segmentation

Part 08: Decision Framework

Part 09: Drivers and Challenges

Part 10: Market Trends

Part 11: Vendor Landscape

Part 12: Key Vendor Analysis

For more information about this report visit https://www.researchandmarkets.com/research/4xn7t4/global_automotive?w=5

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com  

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SOURCE Research and Markets