Tom Ferry Discusses How To Overcome Your Excuses With These 3 Steps

Are you committed to making this year your best year ever?

In the following video Tom Ferry talks to agents just like you, who make more in the second half of the year than they do in the first.

In order to make this year your best, you might need to quit some habits, star some new ones, and focus on the things that matter most.

When you take the right kinds of action you can find the success that you deserve!

In this episode of the #TomFerryShow Tom discusses:

  • How to overcome excuses
  • 4 important questions to ask yourself about your goals
  • 3 vital actions needed to make this your best year ever

Pending Home Sales Skid in May

Washington, D.C. – June 29, 2016 (Realtor.org) After steadily increasing for three straight months, pending home sales let up in May and declined year-over-year for the first time in almost two years, according to the National Association of Realtors®. All four major regions experienced a cutback in contract activity last month.

NAR logo

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, slid 3.7 percent to 110.8 in May from a downwardly revised 115.0 in April and is now slightly lower (0.2 percent) than May 2015 (111.0). With last month’s decline, the index reading is still the third highest in the past year, but declined year-over-year for the first time since August 2014.

Lawrence Yun

Lawrence Yun

Lawrence Yun, NAR chief economist, says pending sales slumped in May across most of the country. “With demand holding firm this spring and homes selling even faster than a year ago(1), the notable increase in closings in recent months took a dent out of what was available for sale in May and ultimately dragged down contract activity,” he said. “Realtors® are acknowledging with increasing frequency lately that buyers continue to be frustrated by the tense competition and lack of affordable homes for sale in their market.”

Despite mortgage rates hovering around three-year lows for most of the year, Yun says scant supply and swiftly rising home prices – which surpassed their all-time high last month(2) – are creating an availability and affordability crunch that’s preventing what should be a more robust pace of sales.

“Total housing inventory at the end of each month has remarkably decreased year-over-year now for an entire year(3),” adds Yun. “There are simply not enough homes coming onto the market to catch up with demand and to keep prices more in line with inflation and wage growth.”

Looking ahead to the second half of the year, Yun says the fallout from the U.K.’s decision to leave the European Union breeds both immediate opportunity as well as potential headwinds for the U.S. housing market.

“In the short term, volatility in the financial markets could very likely lead to even lower mortgage rates and increased demand from foreign buyers looking for a safer place to invest their cash,” he said. “On the other hand, any prolonged market angst and further economic uncertainty overseas could negatively impact our economy and end up tempering the overall appetite for homebuying.”

In spite of last month’s step back in contract signings, existing-home sales this year are still expected to be around 5.44 million, a 3.7 percent boost from 2015. After accelerating to 6.8 percent a year ago, national median existing-home price growth is forecast to slightly moderate to between 4 and 5 percent.

Regional Breakdown

The PHSI in the Northeast dropped 5.3 percent to 93.0 in May, and is now unchanged from a year ago. In the Midwest the index slipped 4.2 percent to 108.0 in May, and is now 1.8 percent below May 2015.

Pending home sales in the South declined 3.1 percent to an index of 126.6 in May but are still 0.6 percent higher than last May. The index in the West decreased 3.4 percent in May to 102.6, and is now 0.1 percent below a year ago.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

# # #

1. According to the May Realtors® Confidence Index, properties typically stayed on the market for 32 days, which is below a year ago (40 days) and the shortest time since NAR began tracking in May 2011.

2. Surpassing the peak median sales price set last June ($236,300), the median existing-home price for all housing types in May was $239,700.

3. Total housing inventory at the end of May was at 2.15 million existing homes available for sale, which was 5.7 percent lower than a year ago (2.28 million). The last year-over-year increase in total housing inventory was last May (2.28 million vs. 2.25 million in May 2014).

* The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.

NOTE: NAR’s 2016 Profile of International Home Buying Activity is scheduled for July 6, the next Housing Opportunities and Market Experience (HOME) survey will be released on July 13, Existing-Home Sales for June will be reported July 21, and the next Pending Home Sales Index will be July 27; all release times are 10:00 a.m. ET.

Media Contact:

Adam DeSanctis
(202) 383-1178
Email

New REALTOR Benefits Partner Provides Members-Only Online Shopping Destination

Washington, DC – June 28, 2016 (Realtor.org) The National Association of Realtors® has partnered with Electronics Row to create a Members’ Gift Galleria (link is external), the first-of-its-kind custom shopping destination exclusively for Realtors®, association members and their families.

NAR logo

As part of the REALTOR Benefits® Program, the Members’ Gift Galleria serves as Realtors®’ source for personal shopping, as well as an online location for closing, thank you and holiday gifts for clients. It provides Realtors® with access to low, competitive pricing on a rotating selection of top brands, including Apple, Microsoft, Samsung, FitBit, Cuisinart, iRobot, Beats, Tumi, Coleman, KitchenAid and many more.

Tom Salomone

Tom Salomone

“NAR is a Realtor®’s business advantage, and this partnership with Electronics Row allows us to provide members with significant savings on top-of-the-line products for their businesses,” said NAR President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida. “The Members’ Gift Galleria is an economical way for our members to use client gifting to brand and differentiate themselves from other agents and improve client loyalty.”

The Members’ Gift Galleria features a rewards program that allows members to earn points with every purchase that may be redeemed for discounts on future purchases. Members will also have access to exclusive, limited-time offers such as gifts with purchase, buy one get one offers and item promotions; free shipping is available on many items.

For more information on the Members’ Gift Galleria and other REALTOR Benefits® partners, visit Realtor.org/RealtorBenefits.

Electronics Row is a leading online member marketplace reseller of work, home, luxury and technology brands. To date, it operates over 20 private online marketplaces under the trademark membermarketplace™.

The REALTOR Benefits® Program is the official member benefits program of the National Association of Realtors®, connecting members with discounts and unique offers on products and services just for Realtors® from more than 30 companies recognized as leaders in their respective industries.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.1 million members involved in all aspects of the residential and commercial real estate industries.

Media Contact:

Jane Dollinger
(202) 383-1042
Email

Which Social Networks Do Advertisers Rely On?

Source: Statista

When it comes to social media advertising, Facebook is by far the most popular network of choice. Behind the market leader however, things are less clear. According to a research report by Social Fresh, Instagram is quickly gaining popularity among marketers and could soon take Twitter’s place as the second most important social advertising channel.

According to Facebook’s most recent earnings report, more than 200,000 businesses advertise on Instagram each month. Given the network’s steady rise in popularity and the fact that its advertising offerings became available in more than 30 new countries on September 30, we can expect that number to grow a lot further in the future.

This chart shows which social networks marketers regularly advertise on.

Infographic: Which Social Networks Do Advertisers Rely On? | Statista
You will find more statistics at Statista

May Construction Starts Rise 5 Percent

Strong Gains Reported for Public Works, Power Plants, and Multifamily Housing

New York, NY – June 24, 2016 (PRNewswire) At a seasonally adjusted annual rate of $636.7 billion, new construction starts in May increased 5% from April, according to Dodge Data & Analytics. Much of the growth came from the nonbuilding construction sector (public works and electric utilities), which was lifted by a $3.8 billion oil pipeline in the upper Midwest as well as by seven power plant projects with a combined cost of $4.3 billion. Residential building edged up slightly in May, as multifamily housing bounced back from its subdued April performance. However, nonresidential building in May retreated, sliding for the second month in a row after the elevated activity reported in March. During the first five months of 2016, total construction starts on an unadjusted basis were $256.7 billion, down 12% from the same period a year ago. Last year’s January-May period featured 12 exceptionally large projects valued each at $1 billion or more, including a $9.0 billion liquefied natural gas export terminal in Texas, an $8.5 billion petrochemical plant in Louisiana, the $2.5 billion 30 Hudson Yards office tower in New York NY, and the $2.3 billion Interstate 4 Ultimate Project in Orlando FL. In contrast, the January-May period of 2016 included only four projects valued at $1 billion or more. If these exceptionally large projects are excluded from the comparison, total construction starts during the first five months of 2016 would be down 0.3%, or essentially even, with last year.

Dodge Data & Analytics (PRNewsFoto/Dodge Data & Analytics)

The May statistics raised the Dodge Index to 135 (2000=100), up from 129 in April. The Dodge Index had shown moderate improvement during February and March, averaging 141, before slipping back in April. “The construction start statistics have shown annual increases since 2010, including a 10% gain in 2015, although the month-to-month pattern has been frequently uneven,” stated Robert A. Murray, chief economist for Dodge Data & Analytics. “This up-and-down behavior continues to be present in 2016, with May seeing a partial rebound after the setback in April. In addition, the year-to-date comparisons in early 2016 relative to last year have been complicated by the fact that the first half of 2015 witnessed elevated levels arising from a number of exceptionally large projects (defined as projects valued at $1 billion or more). There were considerably fewer such projects during the second half of 2015, and this lower base should enable the year-to-date comparisons to improve as 2016 proceeds. The environment for construction still carries a number of positives – long term interest rates remain low, commercial development is being financed from multiple sources, construction bond measures are being passed at the state level, and the new multiyear federal transportation bill is in place. On the cautionary side, bank lending standards for commercial real estate loans began to tighten during the second half of 2015, and this trend has continued into 2016.”

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Nonbuilding construction in May jumped 24% to $193.0 billion (annual rate). The public works categories as a group increased 15%, helped especially by a 47% hike for miscellaneous public works, which includes such diverse project types as pipelines, rail and airport runway projects, and site work. May’s data included the start of the Dakota Access Pipeline, with an estimated construction start cost of $3.8 billion, located in the states of North Dakota, South Dakota, Iowa, and Illinois. This oil pipeline will connect the Bakken and Three Forks production areas in North Dakota to existing pipelines in Illinois. The river/harbor development category in May climbed 81%, rebounding after a weak April. Sewer construction in May advanced 42%, helped by the start of a $149 million sewage pumping station in Kailua HI and a $130 million sewage treatment plant upgrade in the Binghamton NY area. Water supply construction was the one environmental public works category that declined in May, falling 40%. Highway and bridge construction edged up 1% in May, advancing for the second month in a row following the lackluster amount reported in March. The electric power and gas plant portion of nonbuilding construction soared 57% in May. There were four large natural gas-fired power plants included as construction starts, located in Pennsylvania ($1.2 billion), Ohio ($890 million), Florida ($750 million), and Texas ($575 million). There were also three large wind farms that reached groundbreaking in May, located in Kansas (two projects valued at $400 million and $220 million, respectively), and North Dakota ($249 million). Murray noted, “Last December Congress approved an extension to the wind-energy production tax credit through 2019, which is contributing to the healthy pace for new wind power projects so far in 2016.”

Residential building, at $272.5 billion (annual rate), improved 1% in May. The multifamily side of the housing market provided the upward push, increasing 15%. There were eight multifamily projects valued at $100 million or more that reached groundbreaking in May, compared to five such projects in April. The May large projects were led by a $500 million apartment tower in Chicago IL, followed by a $453 million apartment tower in Jersey City NJ, and the $345 million apartment portion of a $500 million mixed-use high-rise in New York NY. Through the first five months of 2016, New York NY continued to be the leading metropolitan area in terms of the dollar amount of multifamily starts, followed by Miami FL, Chicago IL, Boston MA, and Los Angeles CA. Metropolitan areas ranked 6 through 10 during this period were San Francisco CA, Washington DC, Denver CO, Atlanta GA, and Dallas-Ft. Worth TX. Of these ten metropolitan areas, eight showed double-digit gains compared to a year ago, while two showed declines – New York NY, down 16%; and Washington DC, down 25%. Single family housing in May slipped 4%, not yet able to re-establish an upward trend in a sustainable manner despite continued low mortgage rates. By major region, single family housing in May showed this pattern compared to April – the Midwest, down 7%; the South Atlantic, down 6%; the West, down 4%; the South Central, no change, and the Northeast, up 3%.

Nonresidential building in May decreased 6% to $171.2 billion (annual rate), marking the second straight monthly decline after the heightened activity in March. The commercial building categories as a group experienced a 9% shortfall in May. Hotel construction, which had been particularly strong during the initial months of 2016, fell 22%. Large projects that reached groundbreaking in May included the $97 million hotel portion of the $500 million mixed-use high-rise in New York NY and a $75 million Marriott hotel in Menlo Park CA. While noteworthy projects by themselves, they were smaller in scale than the substantial hotel and casino projects that reached groundbreaking in February and March. Office construction in May dropped 11%, despite the start of a $191 million office building in Brooklyn NY, a $139 million renovation of a federal government office building in Washington DC, and a $95 million renovation of an office campus in Akron OH. Both stores and warehouses stayed close to their April levels, posting small declines of 1% and 3% respectively. The manufacturing plant category in May retreated 37%, following April’s 38% hike that included the $717 million expansion to an alpha olefins plant in Louisiana.

The institutional side of the nonresidential building market held steady in May. The educational facilities category rose a moderate 4%, lifted by the start of a $111 million science and technology center at Chapman University in Orange CA, an $80 million renovation of a high school in Hartford CT, and a $77 million engineering building at San Diego State University in San Diego CA. Healthcare facilities increased 7%, boosted by groundbreaking for a $230 million hospital in Baton Rouge LA and a $177 million hospital in Fulton MO. Moderate growth was also reported for church construction, up 6%; and public buildings (courthouses and detention facilities), up 9%. On the negative side, transportation terminal work slipped 9% in May, and amusement-related construction fell 13%. Even with its May decline, the amusement category did include the start of the $129 million renovation of the Target Center Arena in Minneapolis MN and a $98 million “convening” center at Harvard Business School in Allston MA.

The 12% decline for total construction starts on an unadjusted basis during the first five months of 2016 was due to diminished activity for both nonbuilding construction and nonresidential building, compared to their brisk pace of a year ago. Nonbuilding construction dropped 24% year-to-date, with public works down 13% and electric utilities/gas plants down 39%. Nonresidential building fell 21% year-to-date, with commercial building down 7%, institutional building down 12%, and manufacturing building down 70%. Residential building continues to be the one major sector that’s showing year-to-date growth, climbing 6% with single family housing up 9% and multifamily housing holding steady with the prior year. By geography, total construction starts during the first five months of 2016 revealed a mixed pattern – the South Central, down 36%; the Northeast, down 8%; the West, down 2%; the South Atlantic, no change; and the Midwest, up 7%.

May 2016 Construction Starts

Dodge Chart

About Dodge Data & Analytics: Dodge Data & Analytics is a technology-driven construction project data, analytics and insights provider. Dodge provides trusted market intelligence that helps construction professionals grow their business, and is redefining and recreating the business tools and processes on which the industry relies. Dodge is creating an integrated platform that unifies and simplifies the design, bid and build process, bringing data on people, projects and products into a single hub for the entire industry, from building product manufacturers to contractors and specialty trades to architects and engineers. The company’s products include Dodge Global Network, Dodge SpecShare, Dodge BuildShare, Dodge MarketShare, and the ConstructionPoints and Sweets family of products. To learn more, visit www.construction.com.

Media Contact:

Susan Peterson
Marketing | Communications
Dodge Data & Analytics
(347) 523-4570
susan.peterson@construction.com

Worldwide Ad Spending Growth by Medium

Source: Statista

One of the golden rules of advertising is to always follow the eyeballs. And since many of us have our eyes fixed on our smartphones most of the time, it’s no surprise that advertising budgets are shifting to mobile devices as well.

According to Zenith’s latest global advertising forecast, advertisers will spend an additional $75 billion a year on mobile ads in 2018 compared to last year. By then, mobile devices will have overtaken the desktop internet to become the second-largest advertising medium behind television. Zenith expects annual mobile advertising spending to reach $128 billion a year by 2018, well ahead of the $91 billion expected to be spent on desktop internet ads.

This chart shows the estimated change in annual ad spending between 2015 and 2018.

Infographic: Worldwide Ad Spending Growth by Medium | Statista
You will find more statistics at Statista