August Round Up: Homesales Send Mixed Message Forecasters trying to read the tea leaves of the economy are getting a mixed housing message, with sales of existing homes seeming to be on the decline, while sales of new homes hit a new high. The National Association of Realtors reports that July sales of existing homes fell 9.8 percent below the sales numbers of the same period a year ago. The Realtors now expect some 4.79 million homes to be sold this year. The Commerce Department reports, however, that new home sales leaped by 14.7 percent in July, the largest jump since 1993. At this pace, some 944,000 new homes will be sold this year. The Realtors maintain that mortgage interest rates - hovering just below 8 percent - are the key to the slowdown. Builders, meanwhile, note that while rates remain high, they are still below the 8.5 percent levels of a few months ago. The national median existing-home price was $143,300 in July, up 5.4 percent from July 1999 when the median price was $136,000. The median price of a new home in July was $166,100.
Interest rates moderating Economists are predicting mortgage interest rates will continue a gradual decline from now to the end of the year, but have not ruled out another rate increase by the Fed. The Federal Reserve has pushed up rates six times in the last 14 months in an effort to cool sales of homes, cars and other big ticket items. Since mid-May mortgage rates have dropped from 8.56 percent to 7.96 in mid-August. Some number crunchers are beginning to doubt the impact of mortgage rates on home sales, however, pointing out there continues to be low unemployment and the stock market continues to gain ground - both very positive economic signs.
Top homeowner help sites Do-it-yourself guru Tom Kraeutler, the new Home Editor for MSNBC's new Home Page show, has released his list of top Web sites to help homeowners with repair and renovation projects. HouseNet - A site that strives to be the "ultimate resource on home, garden, and today's lifestyle." Features advice for the complete home experience, from buying and selling to home repair and entertaining. Owens Corning Exterior FX - A visualizer that allows you see what combinations of siding, roofing and trim colors would look like on a home similar to yours. Armstrong Flooring - Another cool visualizer, Armstrong Room Viewer lets you select the type of flooring you want to see, then lets you apply them to kitchens, bathrooms or great rooms. General Electric Home Solutions - Homeowners can find appliances to fit their needs, get financial advice and locate specialists in anything from interior design to exterior repairs. RepairClinic - Appliance problems can be easily tracked down with the Web's most comprehensive guide to the care and feeding of home appliances. WarmAir - You'll find a collection of useful calculators for making sure heating, ventilation and air conditioning improvements make sense and save energy dollars.
Magazine ranks 100 best school districts A new magazine for parenting called "Offspring" has publish a list of the top 100 school districts in America, compiled by SchoolMatch. The magazine is now on sale. Offspring and SchoolMatch canvassed 15,892 school districts nationwide, looking at factors such as living costs, academic performance, and expenditures per student.
RealHome offers homebuyer university RealHome.com, a Web site that offers to educate consumers about how to buy and live in homes, has begun offering a homebuyers and homeowners "university." According to CEO Richard Roll, RealHome University gives consumers "valuable lessons on everything from 'Assessing your Home-Buying Readiness' to the ancient art of 'Feng Shui.'" RealHome U is free to registered members. | 
