Daily News 6/23/2015
June 23, 2015
Tuesday – June 23
Housing news continues to be on the positive side this week as the sector continues to improve. The Commerce Department reported that May New Home Sales rose 2.2% from April to an annual rate of 546,000, the fastest pace in seven years. Economists were expecting sales to rise to 525,000, while April was revised to 534,000 from 517,000. The May rate is up nearly 20% from the same period last year. Within the report it showed that the median price declined by 1% from last year to $282,000.
Getting a new job “ain’t” what it used to be as far as how much time it takes from the initial interview until the time you are seated at your new desk. The interview process took up to 23 days in 2014, up from nearly 13 days five years ago. Companies are looking for more than the right person for the right job, they are also looking for loyalty traits. Candidates who have the right character to fit in with the company culture also goes a long way.
The cost of renting continues to edge higher across the country due to financial pressures and a still rather pessimistic view on the housing sector. Rents have risen 4.3% in May from a year ago and are rising at double digit rates in Denver, San Francisco and San Jose, California as increased job opportunities lure in Americans, a faster pace than construction can match. The rise in rentals is also weighing on what would-be buyers can save for a down payment to purchase a home. This is exacerbated by cities with a higher amount of both technology and financial related jobs. For instance, a one bedroom apartment in New York City averaged $3,521 last month.