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Home Prices Rose 13% in December, Sales Up 16%

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The national median home-sale price rose 13% year over year to $334,300 in December, according to a new report from Redfin (www.redfin.com) (NASDAQ: RDFN), the technology-powered real estate brokerage. Homebuying demand barely slowed during what is typically one of the slowest months of the year. Closed home sales were up 16% from a year earlier and pending sales were up 35%, while new listings were up just 14%. The housing market’s continued intensity is due in large part to the continued decline in home mortgage interest rates.

“The December housing market felt more like spring than winter,” said Redfin chief economist Daryl Fairweather. “Right now homebuying demand is seemingly endless, and although new listings are up from a year ago, it’s not nearly enough to keep up with demand. This inventory shortage is especially dire in places that have become hot migration destinations during the pandemic, like Salt Lake City.”

Median prices increased in each of the 85 largest metro areas Redfin tracks. The smallest price gains compared to a year earlier were in San Francisco (+3%). The largest price increases were in Bridgeport, CT (+28%), Camden, NJ (+24%) and New Brunswick, NJ (+21%).

“It seems no matter how high we price some homes, buyers are willing to pay more,” said Shellie Silva, an agent in Grand Rapids, MI, where median sale prices rose 12% in December. “Buyers—especially out of-towners—are offering up to $30,000 in cash to cover any appraisal gap in addition to waiving inspection contingencies. A lot of the demand is coming from people moving here from the Chicago area, drawn by low property taxes and relatively affordable housing.”

Market Summary

December 2020

Month-Over-Month

Year-Over-Year

Median sale price

$334,300

-0.2%

13.1%

Homes sold, seasonally-adjusted

637,600

-3.8%

16.2%

Pending sales, seasonally-adjusted

629,700

1.4%

35.4%

New listings, seasonally-adjusted

680,900

1.3%

13.6%

All Homes for sale, seasonally-adjusted

1,642,800

-1.1%

-22.3%

Median days on market

30

3

-20

Months of supply

1.2

-0.4

-1.3

Sold above list

33.4%

-1.6 pts

13.4 pts

Median Off-Market Redfin Estimate

$318,100

-0.2%

14.5%

Average Sale-to-list

99.4%

-0.1 pts

1.4 pts

Average 30-year fixed mortgage rate

2.68%

-0.09 pts

-1.04 pts

† – “pts” = percentage point change

Home sales were up 16% in December from a year earlier on a seasonally-adjusted basis, down from the record high of 25% set in October, but still the fourth-highest level on record.

The number of homes sold in December was up from a year earlier in the 85 largest metro areas Redfin tracks. The largest gains in sales were in Bridgeport, CT (+52%), New Brunswick, NJ (+47%) and Oxnard, CA (+41%). The metro areas with the smallest increase in the number of homes sold were Fresno, CA and Miami, both of which had gains of just 3%.

Active listings—the count of all homes that were for sale at any time during the month—fell 22% year over year to their lowest level on record in December,  the 17th-straight month of declines.

Only five of the 85 largest metros tracked by Redfin posted a year-over-year increase in the count of seasonally-adjusted active listings of homes for sale. The largest gains were in San Francisco (+78%), New York City (+28%) and San Jose, CA (+25%).

Compared to a year ago, the biggest declines in active housing supply in December were in Salt Lake City (-57%), Kansas City, MO (-51%) and Allentown, PA (-49%).

The number of new listings of homes for sale increased 14% in December from a year earlier, a solid gain, but still dwarfed by the gain over the same period in pending sales, which were up 35%.

Measures of competition such as time on market and the share of homes sold above list price were at their most extreme December levels on record. However, they did finally ease slightly from November, following a more typical seasonal trend, but this only offered a small amount of relief for homebuyers.

The typical home that sold in December went under contract in 30 days—20 days less than a year earlier.

In December 33% of homes sold above list price, down slightly from the peak in November, but up from 20% a year earlier.

To read the full report, including charts and additional metro-level insights, please visit: https://www.redfin.com/news/december-home-prices-up-13-pct/.

About Redfin
Redfin (www.redfin.com) is a technology-powered residential real estate company, redefining real estate in the consumer’s favor in a commission-driven industry. We do this by integrating every step of the home buying and selling process and pairing our own agents with our own technology, creating a service that is faster, better and costs less. We offer brokerage, iBuying, mortgage, and title services, and we also run the country’s #1 nationwide brokerage website, offering a host of online tools to consumers, including the Redfin Estimate. We represent people buying and selling homes in over 90 markets in the United States and Canada. Since our launch in 2006, we have saved our customers over $800 million and we’ve helped them buy or sell more than 235,000 homes worth more than $115 billion.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin’s press release distribution list, email press@redfin.com. To view Redfin’s press center, click here.

SOURCE Redfin

Related Links

https://www.redfin.com

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Northern Vertex Reports Revenue of US$23.4 Million and Production of 12,401 Gold Equivalent Ounces for Quarter Ending December 31, 2020

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Northern Vertex Mining Corp. (TSXV: NEE) (OTC Nasdaq Intl.: NHVCF) (the “Company” or “Northern Vertex”) is pleased to announce revenue of $23.4 million and production of 12,401 gold equivalent ounces for the quarter ended December 31, 2020 from the Company’s 100% owned Moss Gold Mine in NW Arizona.  Gold equivalent production is calculated at realized gold and silver prices for the quarter of $1,888 and $24.66 respectively. All figures are US dollars unless otherwise noted.

Highlights for the quarter ending December 31, 2020:

  • Revenue of $23.4 million
  • Gold equivalent production of 12,401 ounces
  • Gold production 11,124 ounces
  • Silver production of 95,804 ounces
  • Repayment of $8.5 million of debt
  • $8.3 million cash on hand at December 31st, 2020

Ken Berry, President and CEO commented, “I am delighted to report continued robust production in a strong gold market.  In the last six months, we have generated $50.2 million in revenue on the production of 27.1 gold equivalent ounces. The exemplary performance of our operating team this quarter allowed us to maintain strong production and revenue levels while executing the transition from mining the center pit to pioneering and operating the west pit. With a strong balance sheet, an aggressive exploration program and 3 drill rigs onsite, I look forward to updating our shareholders with our upcoming drill results.”

Operating Results for the Quarter Ended December 31, 2020:

Three Months Ended
Dec 31, 2020

Three Months Ended
Dec 31, 2019

Ore mined

tonnes

570,742

521,818

Grade

g/t

0.53

0.75

Tonnes stacked per day (average)

tpd

6,810

5,399

Contained gold ounces stacked

Oz

11,073

12,043

Gold ounces sold

Oz

11,760

9,925

Silver ounces sold

Oz

147,109

61,183

Gold equivalent ounces sold*

Oz

13,721

10,740

*Note: Gold equivalent ratio of 75:1.

Mine Plan Sequencing from center pit to west pit

During the quarter, mining operations transitioned from the centre pit into the west pit, where bulk disseminated stockworks dominate.  This transition enabled higher tonnage mining rates and more favourable strip ratios that are expected to lead to lower costs and lower cut-off grades as compared to the narrow-vein mining previously conducted in the centre-pit.

Cash Position

The Company’s cash position of $8.3 million at December 31, 2020 is expected to be augmented by the C$22.6 million financing announced by Northern Vertex and Eclipse Gold in connection with the merger of Northern Vertex and Eclipse Gold (see press release dated January 14, 2021).  Subject to the satisfaction of certain conditions, the merger between Northern Vertex and Eclipse Gold is expected to close on February 12, 2021.

Debenture Payment

The Company also announces that under the terms of the convertible debentures issued under the convertible debenture indenture dated July 31, 2020 (the “Indenture”) between the Company and Computershare Trust Company of Canada, it has elected to satisfy its obligation to pay an aggregate of C$140,250 in interest accrued on the C$6.71 million convertible debentures by issuing to such debenture holders on the interest payment date of December 31, 2020 an aggregate of 269,712 common shares.

The Company will pay to each such debenture holder approximately 4.02 common shares per $100 principal amount of debentures held as at the applicable interest payment record date. Under the terms of the Indenture, no fractional common shares will be delivered upon payment of the interest obligation and the Company is not required to pay the cash equivalent of any amount less than $5.00. The issuance of common shares in payment of interest remains subject to Exchange approval.

Safety/COVID-19

The Company’s policies have been recently modified, with new procedures put in place during the second fiscal quarter due to an onset of a number of COVID-19 cases among our team members.  Despite health concerns, our team was able overcome localized challenges and maintain full gold production at the Moss Mine. As at December 31, 2020, we have seen the benefits of our upgraded procedures and the Moss Mine had no known cases of COVID-19.

About Northern Vertex Mining Corp.

Northern Vertex Mining Corp. owns and operates the Moss Mine, currently the largest primary gold and silver mine in Arizona.  Focused on low cost gold and silver production, the Company has experience across all areas of operations, mine development, exploration, acquisitions, and financing of mining projects. The Company intends to consolidate additional producing or value-adding gold assets within the Western US.  Through mergers and acquisitions Northern Vertex’s corporate goal is to become a mid-tier gold producer.

ON BEHALF OF THE BOARD OF NORTHERN VERTEX
“Kenneth Berry”
President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements:

This news release contains statements about our future business and planned activities. These are “forward-looking” because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as scheduled, may, intend, plan, expect, anticipate, believe or other similar words. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies.  Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements.  We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.  US investors should be aware that mining terminology used for Canadian mineral project reporting purposes differs significantly from US terminology.         

SOURCE Northern Vertex Mining Corp.

Related Links

www.northernvertex.com

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ROSEN, A TOP RANKED LAW FIRM, Continues to Investigate Securities Claims Against OrthoPediatrics Corp. – KIDS

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Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of OrthoPediatrics Corp. (NASDAQ: KIDS) resulting from allegations that OrthoPediatrics may have issued materially misleading business information to the investing public.

On December 2, 2020, Culper Research published a report entitled “OrthoPediatrics Corp. (KIDS): Even Channel Stuffing Can’t Save This Company[.]” The report alleged that OrthoPediatrics has “engaged in a channel stuffing scheme that has systematically and significantly overstated revenues.” On this news, the Company’s stock price fell $5.40 per share, or 12%, to close at $39.35 per share on December 3, 2020.

Then on December 14, 2020, Culper Research published a second report entitled “OrthoPediatrics Corp. (KIDS): Pleading the Fifth” in which it concluded that the Company “is a structurally broken business which has relied on nefarious tactics to inflate its reported revenues.”

Rosen Law Firm is preparing a securities lawsuit on behalf of OrthoPediatrics shareholders. If you purchased securities of OrthoPediatrics please visit the firm’s website at http://www.rosenlegal.com/cases-register-2015.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

SOURCE Rosen Law Firm, P.A.

Related Links

www.rosenlegal.com

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University Medical Center Opens Onsite COVID-19 Vaccination Center At Encore At Wynn Las Vegas

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The UMC COVID-19 Vaccination Center will open its doors at Encore at Wynn Las Vegas (NASDAQ: WYNN) on Monday, January 18.

The UMC COVID-19 Vaccination Center will operate Monday – Friday, with the ability to increase hours as the program expands. It is conveniently located in the resort’s convention space near the Encore self-parking garage. Vaccines at the Center are available to residents of Nevada who are eligible under the current State of Nevada vaccination guidelines.

Initially, the UMC COVID-19 Vaccination Center will only offer the vaccine to people 70 and older, healthcare workers, and first responders.

To ensure efficiency, appointments are required by UMC and can be scheduled in advance at www.umcsn.com/COVIDvaccine or by calling (702) 383-2619. Eligible Nevadans may need to book their appointments several weeks in advance.

To determine eligibility for the vaccine under the current state guidelines, please visit https://nvhealthresponse.nv.gov/wp-content/uploads/2021/01/NEVADA-COVID-19-VACCINE-PLAYBOOK-V3-BRIEF_011121.pdf.

This unique partnership was formed to increase distribution of the vaccine throughout the Las Vegas Valley at a convenient location, and to assist in the state’s recovery from the pandemic.

“We offered Encore as a vaccination location to help facilitate vaccine distribution as quickly and efficiently as possible throughout the Las Vegas Valley,” said Matt Maddox, CEO of Wynn Resorts. “Our partnership with UMC began with our extensive onsite employee testing program. Based upon the success of that program with UMC, we look forward to hosting this critical step in our state’s economic and health recovery.”

“The UMC COVID-19 Vaccination Center at Encore will serve as a valuable asset to our community as we work together to protect our most vulnerable populations and eventually bring an end to the COVID-19 pandemic,” said UMC CEO Mason Van Houweling. “UMC’s world-class health care team members look forward to working alongside our trusted partners at Wynn Resorts to build a brighter, healthier future for Southern Nevada.”

The Encore location will replace UMC’s existing COVID-19 vaccination clinic at UMC’s Delta Point Building. All UMC vaccination appointments scheduled on or after January 18 will take place at the Encore location.

The UMC COVID-19 Vaccination Center is equipped to offer hundreds of vaccinations each day. Additional information is available at www.umcsn.com/COVIDvaccine.

About Wynn Resorts COVID-19 Relief Efforts

Wynn Resorts is committed to protecting our employees, working for the health and safety of our guests, and taking care of our communities impacted by COVID-19 with relief efforts that fill financial and supply chain gaps where they matter most. The donation and volunteer strategies follow an extensive financial protection plan implemented by Wynn Resorts CEO Matt Maddox that began with a $250 million investment that ensured all 15,000 Wynn employees in North America received their full wage during the government-mandated shutdown.

To provide relief to first responders and protection to those suffering the financial impact of the crisis, the Company procured and donated more than $3 million worth of financial aid, personal protective equipment, food and prepared meals, and essential cleaning and hygiene supplies to dozens of health care facilities and local nonprofit organizations throughout Las Vegas and Greater Boston. In May 2020, Wynn Las Vegas began providing all employees with direct access to reliable and accurate COVID-19 tests on-site at no cost; and in early 2021 will debut a custom-built state-of-the-art COVID-19 testing lab and mobile health app available to resort guests.

Media Contact:
Michael Weaver
702-770-7501
michael.weaver@wynnresorts.com

Deanna Pettit-Irestone
702-770-2121
deanna.pettit@wynnlasvegas.com

SOURCE Wynn Las Vegas

Related Links

http://www.wynnlasvegas.com

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