When you call a credit card company you hear an automatic message telling you, “to better serve you” they would like you to enter on keypad your account number. After you enter your number you are put into a loop to wait for your turn to speak with a account representative. The first thing out of the person’s mouth that answers your call is…May I please have your account number? How is that serving me better? And better yet why are they wasting my time? Aren’t they losing money with this needless step in their process?
According to the Commerce Department, sales of new homes rose 9.6% to a 433,000 annual pace in July; this was the highest pace in 10 months. The data points to stabilization in the housing sector which has been in slump since 2005. The median price of a new home decreased 12% to $210,100 from $237,300 in July 2008. Sales of new homes were down 13% from a year earlier. “The housing market is bottoming out,” said Conrad DeQuadros, a senior economist at RDQ Economics. “At the same time, it’s not going to turn around very quickly.”
The Northeast saw a 32% rise in sales, while the South saw a 16% rise and the West saw a 1% rise. Sales dropped 7.6% in the Midwest. There were 271,000 houses on the market last month, down 35% from July 2008 and the fewest since March 1993. At the current sales pace, it would take 7.5 months to sell all homes. Unemployment continues to remain a concern for the housing market. Analysts say that housing recovery could be hit if unemployment continues to rise.
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