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Business

2020 ended with exceptionally high demand from homebuyers, according to latest HouseCanary report

Increased Demand From Homebuyers Shows No Signs of Slowing, with Listings Under Contract Up 19.2% Year-Over-Year

New Listing Volume Declined 10.0% Year-Over-Year, Highlighting That Supply Remains Tight Heading Into 2021

Since the Onset of the COVID-19 Pandemic, the Median Price of Closed Listings Has Increased Across 38 Out of 39 States

SAN FRANCISCO–(BUSINESS WIRE)–HouseCanary, Inc. (“HouseCanary”), a leading provider of residential real estate data and home valuations, today released its latest Market Pulse report, covering 22 listing-derived metrics and comparing data between the week ending March 13, 2020 through the end of December versus the same period in 2019. The Market Pulse is an ongoing review of proprietary data and insights from HouseCanary’s nationwide platform.


Jeremy Sicklick, Co-founder and Chief Executive Officer of HouseCanary, commented: “December closed out a remarkable year in the national housing market. Following the precipitous onset of COVID-19, which initially rocked every sector, the housing market soon saw the return of home sales activity and renewed confidence among buyers and sellers alike. Across the country, demand remained profoundly high even as shrinking inventory levels outpaced cyclical norms. As we enter 2021, several policy and regulatory changes may take hold and significantly impact the housing landscape following the outcome of the Georgia Senate runoff elections and the transition of the Presidency. In the near-term, however, we anticipate that homebuyer demand will remain elevated as overall listings continue to lag and borrowing rates remain at historical lows.”

Select findings from this month’s Market Pulse are below. Be sure to review the Market Pulse in full for extensive state-level data.

Monthly New Listing Volume (Single-Family Detached Homes):

  • For the month of December, new listing volume is down 10.0% year-over-year
  • Percent change in new listing activity since the week ending March 13 through the end of December versus the same period in 2019, broken down by home price:
    • $0-$200k: (-27.1%)
    • $200k-$400k: (-8.8%)
    • $400k-$600k: +2.4%
    • $600k-$1mm: +8.9%
    • >$1mm: +12.3%

Total Net New Listings:

  • In the month of December, there were 133,461 net new listings placed on the market, representing a 26.4% increase compared to December 2019
  • The decline in new listing volume was more than offset by a 48.9% decrease in removals over the same period
  • Since the week ending March 13 through the end of December, there have been 2,406,658 net new listings placed on the market, which is a 1.7% decrease versus the same period in 2019
  • Percentage of total net new listings since March 13, broken down by home price:
    • $0-$200k: 22.3%
    • $200k-$400k: 44.7%
    • $400k-$600k: 17.8%
    • $600k-$1mm: 10.2%
    • >$1mm: 5.0%

Listings Under Contract:

  • Since the week ending March 13, 2,754,366 properties have gone into contract across 41 states, representing a 6.1% increase relative to the same period in 2019
  • Percentage of total contract volume since the week ending March 13, broken down by home price:
    • $0-$200k: 22.9%
    • $200k-$400k: 44.7%
    • $400k-$600k: 17.7%
    • $600k-$1mm: 10.0%
    • >$1mm: 4.7%

Monthly Contract Volume (Single-Family Detached Homes):

  • For the month of December, there were 232,844 listings that went under contract nationwide, which is a 19.2% increase year-over-year
  • Percent change in contract volume year-over-year, broken down by home price:
    • $0-$200k: (-7.1%)
    • $200k-$400k: +17.5%
    • $400k-$600k: +40.9%
    • $600k-$1mm: +60.0%
    • >$1mm: +82.0%
  • The total volume of listings going into contract since the week ending March 13 through the end of December versus the same period in 2019, broken down by home price:
    • $0-$200k: (-13.2%)
    • $200k-$400k: +6.6%
    • $400k-$600k: +21.1%
    • $600k-$1mm: +29.2%
    • >$1mm: +32.7%

Median Listing Price Activity (Single-Family Detached Homes):

  • Relative to the start of the COVID-19 pandemic, the median price of closed listings has continued to rise across 38 out of 39 states
  • The most notable month price surges relative to the week of March 13 include:
    • Vermont: +37.9%
    • New York: +32.7%
    • New Jersey: 25.5%

As a nationwide real estate broker, HouseCanary’s broad multiple listing service (“MLS”) participation allows us to evaluate listing data and aggregate the number of new listings as well as the number of new listings going into contract for all single-family detached homes observed in the HouseCanary database. Using this data, HouseCanary continues to track listing volume, new listings, and median list price for 41 states and 50 individual Metropolitan Statistical Areas (“MSAs”).

About HouseCanary:

Founded in 2013, valuation-focused real estate brokerage HouseCanary provides software and services to reshape the real estate marketplace. Financial institutions, investors, lenders, mortgage investors, and consumers turn to HouseCanary for industry-leading valuations, forecasts, and transaction-support tools. These clients trust HouseCanary to fuel acquisition, underwriting, portfolio management, and more. Learn more at www.housecanary.com.

Contacts

Profile

Casie Connolly / Bela Kirpalani

housecanary@profileadvisors.com

Categories
For Edit

U.S. unemployment claims slip to still-high 787,000

FILE – In this Dec. 14, 2020 file photo, Zeida Hernandez, of Tampa, Fla., left, makes Factory Throwout cigars using an antique hand-operated cigar machine at the J.C. Newman Cigar Co., Tampa’s last cigar factory, in Fla. American factories grew in December at the fastest pace in more than two years as manufacturing continued to weather the pandemic better than the battered services sector. (Douglas R. Clifford/Tampa Bay Times via AP)

 

WASHINGTON (AP) — The number of Americans seeking unemployment aid fell slightly to 787,000, evidence of a job market stumbling in the face of the viral pandemic and the damage it has inflicted on the economy for nearly 10 months.

Thursday’s figure from the Labor Department, a slight decline from the previous week, showed that many employers are still cutting jobs as the pandemic tightens business restrictions and leads anxious consumers to stay home.

At the same time, the number of people who are receiving regular state unemployment aid fell 125,000 to 5.1 million. And fewer people were on extended unemployment benefit programs.

On Friday, the government will likely issue a gloomy jobs report for December. Economists expect it to show that hiring slowed for a sixth straight month — and possibly that employers shed positions for the first time since the job market collapsed in April just after the pandemic erupted.

Unemployed Americans gained some urgently needed help late last month when a $900 billion rescue aid package was signed into law. That measure provided a $300-a-week federal jobless benefit on top of an average state benefit of about $320. As many as half the states are now distributing the federal benefit, according to an unofficial tally at UnemploymentPUA.com. In states that take longer to pay out the $300 payments, any missed payments can be made retroactively.

The federal extension of benefits was lengthened to 24 weeks by the congressional legislation. That program will remain in place until mid-March. A separate program that provides jobless aid to contractors and gig workers who previously weren’t eligible was also extended for 11 weeks. Both benefits had briefly expired Dec. 26, temporarily cutting off all aid for 10 million jobless Americans.

The Labor Department said this week that despite President Donald Trump’s delay in signing the relief package — he did so six days after Congress’ approval — jobless benefits under the extended programs that lapsed Dec. 26 should be paid out without interruption.

The continued weakening of the U.S. job market coincides with other signs that hiring and economic growth are faltering under the weight of the pandemic. On Wednesday, payroll processor ADP reported that private employers shed 123,000 jobs in December, the first such monthly decline since April. ADP’s figures generally track the government’s jobs data over time, though they can diverge significantly from month to month.

In November, consumer spending — the lifeblood of the economy — declined for the first time in seven months, having steadily weakened since summer. Retailers have been especially hurt. Purchases at retail stores have dropped for two straight months.

During the holiday shopping season, consumers pulled back on spending, according to debit and credit card data tracked by JPMorgan Chase based on 30 million consumer accounts. Such spending was 6% lower in December compared with a year ago. That was worse than in October, when card spending was down just 2% from the previous year.

 

— Associated Press

Categories
For Edit

Covid-19, overshadowed by Washington, was deadlier than ever in America

Deaths reported across the country on Wednesday set a new record. Five states have now reported their millionth case.

— NYT: Top Stories

Categories
Regulations & Security

World leaders express horror at U.S. Capitol attack

Global leaders watched live as a mob stormed the U.S. Capitol, and many saw it as a warning to global democracies, placing the blame squarely on President Trump.

— NYT: Top Stories

Categories
Technology

NICE wins ‘The Most Innovative System Award’ for state-of-the-art advancements in workforce management

Recognition applauds NICE WFM Suite for being high on the innovation index and demonstrating maturity in design as well as implementation

HOBOKEN, N.J.–(BUSINESS WIRE)–NICE (Nasdaq: NICE) today announced that it has been named the winner of “The Most Innovative System Award” by the Global WFM Chartered Body (GWFM). The award was presented to the NICE Workforce Management (WFM) Suite for its innovative capabilities that demonstrate maturity in design as well as implementation. This coveted award follows a stringent process that includes a judging committee of global WFM thought leaders and CIOs.

The NICE Workforce Management (WFM) Suite empowers organizations to intelligently meet today’s contact center challenges – all in a single, cloud-powered platform. Leveraging AI and innovative capabilities that automate operations, provide accurate forecasting, enable agility in adapting to change and overcome complexity, NICE WFM achieves effective workforce planning, scheduling and optimization to drive business success in a constantly changing business environment. Uniquely, the NICE WFM Suite enables a multi-pronged approach to increasing engagement and delivering highly accurate planning. The solution taps into AI-based tools and automation to help ensure positive employee experiences by enabling work-life balance via flexible scheduling while helping to see that business metrics are met.

Barry Cooper, President, NICE Enterprise Group, said, “This accolade is especially gratifying, reiterating our commitment to innovation that manifests in all of our solutions as well as the exceptional experiences they create. Our Workforce Management Suite specifically is all about people. It’s about how smart technology can make a difference in the lives of agents and managers by making contact center work easier and more productive while ensuring organizations deliver exceptional customer service through accurate staffing.”

Global Workforce Management Professional Chartered Body (GWFM) is an autonomous, not-for-profit, professionally managed organization, playing a key role in grooming leaders for the future. The body is registered in Canada and established in June 2014. GWFM comprises twenty thousand professional members with backgrounds in WFM & HR committed to promoting WFM and enhancing the capability of human capital professionals to compete globally. www.globalwfm.com

About NICE

NICE (Nasdaq: NICE) is the world’s leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions. www.nice.com.

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Cooper, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions, including as a result of the COVID-19 pandemic; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company’s products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners;, cyber security attacks or other security breaches against the Company; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company’s reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

Contacts

Corporate Media
Christopher Irwin-Dudek, +1 201 561 4442, ET, chris.irwin-dudek@nice.com

Investors
Marty Cohen, +1 551 256 5354, ET, ir@nice.com

Yisca Erez +972 9 775 3798, CET, ir@nice.com

Categories
International & World

Broad American and International Coalition formed to oppose limitations on domestic blueberry imports

Agriculture Leaders Say Imports Clearly Contribute to Success of Domestic Industry by Providing Year-Round Supply of Super Fruit

WATSONVILLE, Calif.–(BUSINESS WIRE)–Ahead of the incoming Biden Administration’s first major trade dispute, American and international blueberry berry growers, importers, distributors, purchasers, and suppliers have aligned to form The Blueberry Coalition for Progress & Health. The Coalition has been organized to oppose limitations on blueberry imports, including the upcoming International Trade Commission hearing on blueberry imports. All members of the Coalition agree that imports are not a substantial cause of serious injury to the domestic blueberry industry. In fact, the U.S. blueberry market is healthy, thriving, and is doing its best to keep up with the year-round marketplace demand for this healthy and nutritious fruit.


U.S. consumer consumption of blueberries has experienced more than a 300% increase in per capita consumption since 2005 and is now at an all-time high of 1.79 pounds per person. Restricting blueberry imports into the U.S. will limit consumers’ access to these healthy, delicious, and nutritional berries. Domestic growers cannot alone meet the rapidly growing U.S. consumer demand for a year-round supply of this healthy “super fruit.” Imports are crucial both to meet current demand and to continue to grow the market for the benefit of all growers, domestic and abroad.

“Our family has been farming in America for over 10 generations, and we are headquartered in the San Joaquin Valley in California. Our decision to farm in Mexico and Peru, in addition to the U.S., was in direct response from our retail customers to produce and deliver quality blueberries throughout the entire year,” said Dave Jackson co-owner of Family Tree Farms and a key member of the Coalition. “If we could grow blueberries year-round exclusively in the United States we would, but seasonal crops like blueberries require farming in other countries to meet growing consumer demand throughout the year.”

Blueberry demand has exploded in the United States, and supply has followed suit. While fresh and frozen blueberry imports have grown over the last five years, so have domestic shipments of both types of products. Production and sales volumes indicate both domestic and import supplies have their own independent growing seasons.

The seasonal nature of domestic production means that blueberries grown in the U.S. are essentially unavailable for 20 to 30 weeks a year for most U.S. consumers, and the vast majority of the increase in fresh blueberry imports has occurred during these months. Approximately 80% of imported fresh blueberries enter the U.S. in off-peak weeks, implying that the vast majority of imports do not compete with domestic blueberries. Given the lack of temporal overlap when the two sources of supply are present in the U.S. market, imported and domestic blueberries are better seen as complements than substitutes.

“The domestic industry has earned double-digit operating margins in every year of the time period included within the United States International Trade Commission (ITC) investigation, which compares favorably to broader farm industry benchmarks,” added Joe Barsi, President of California Giant Farms of Watsonville, Calif. and also a leading member of the Coalition. “At California Giant Berry Farms, our mission is to deliver high-quality berries and take care of our growers. We believe that the counter seasonal supply of imports has increased consumption in the U.S. and has helped the health of the domestic blueberry industry.”

U.S. fresh blueberry production and shipments are heavily concentrated within a 20-week period, running from late-April to early-September. Over 90% of U.S. fresh blueberries are sold during the 20-week peak season. Farmers in large blueberry growing states including North Carolina and New Jersey sell all their blueberries in the peak weeks. Farmers in other large blueberry growing states including Georgia, California, Oregon, and Washington sell more than 90% of their crop in peak weeks. Farmers in every U.S. state except Florida sells at least 80% of its fresh blueberry crop within the 20-week peak U.S. season.

“The U.S. blueberry market is thriving, and our goal is to ensure that we continue to fairly meet the marketplace demand for this healthy and delicious fruit,” added Barsi. “Blueberry imports are crucial to U.S. consumers, retailers, and the U.S. economy, and they clearly contribute to the success of the domestic industry. We are launching this Coalition to alert America’s blueberry lovers and to educate decision makers on the stakes of their upcoming actions, and to prevent the destruction of the thriving and essential blueberry industry.”

To learn more about the benefits of imported blueberries to U.S. consumers, growers and the economy, visit the website for the Blueberry Coalition for Progress and Health.

About the Blueberry Coalition for Progress and Health

The Blueberry Coalition for Progress & Health is a broad cross-section of the U.S. blueberry industry – including domestic growers and shippers as well as importers and retailers – formed to oppose limitations on blueberry imports, including the initiated Section 201 investigation on blueberries. The U.S. blueberry market is thriving, and the goal of the Coalition is to ensure we fairly meet the marketplace demand for this healthy and delicious fruit. Members of the Blueberry Coalition for Progress and Health include:

  • Agroberries S.A.
  • Alpine Fresh Inc.
  • Aneberries A.C.
  • Berries Paradise S.A.P.I. de C.V.
  • California Giant Berry Farms
  • Camposol Fresh USA, Inc
  • Driscoll’s, Inc.
  • Family Tree Farms
  • Fresh Produce Association of the Americas
  • Giddings Berries
  • Hortifruit
  • Andrew & Williamson Fresh Produce
  • Pro Arandanos
  • United Exports Limited
  • Reiter Affiliated Companies
  • Chilean Blueberry Committee
  • Chilealimentos

For more information, visit: www.blueberrycoalitionforprogressandhealth.com

Contacts

Press Inquiries:

Marcus Gamo

press@blueberrycoalition.com

Categories
International & World

Paris by bike

Pedaling across the Seine on a sunny day is a peak experience. How did the City of Light become a city of cycles?

— NYT: Top Stories

Categories
For Edit

Trump allies to push to overturn election on triumphant day for Democrats

Lawmakers will convene to formalize President-elect Joe Biden’s win as President Trump’s allies plot to hijack the process.

— NYT: Top Stories

Categories
Business

First Community Credit Union leverages IMM’s Web Forms to Workflow during pandemic to increase member service efficiency and convenience

Credit Union Reports 300% Surge in Remote Digital Transactions

RAHWAY, N.J.–(BUSINESS WIRE)–IMM, the leader of eSignatures designed exclusively for financial institutions, announced that Chesterfield, Mo.-based First Community Credit Union (FCCU), with more than 345,000 members, successfully launched IMM’s Web Forms to Workflow functionality during the COVID-19 pandemic, resulting in a 300% increase in remote digital transactions completed by members.


FCCU first partnered with IMM in 2012, and now takes advantage of multiple IMM technology offerings including eSign XML with Spectrum and MeridianLink, eSign Remote, eReceipts and the Web Forms to Workflow Solution Pack. These directly integrate with the credit union’s existing core processing system and other business systems used at the credit union to further streamline operations across the entire institution. When FCCU initially closed its lobbies for walk-in traffic during the pandemic, IMM’s digital solutions became crucial to the credit union and its members.

“IMM has powered FCCU with eSignatures across virtually every business system used by the credit union today,” said Glenn D. Barks, President and CEO. “The signing experience is easy to use for members as well as seamless for credit union employees managing the transaction. They are the perfect digital banking partner for us.”

Prior to the pandemic, FCCU members were required to come into a branch to dispute transactions and complete paper forms in person. Now FCCU uses Web Forms to better serve its members in a digital environment. IMM’s Web Forms are online e-forms that members can access on-demand from the credit union’s online banking system. After selecting the desired e-form, it can be easily completed and electronically signed. It is then routed through the credit union’s defined workflow process. The workflow routes each required task to the right department or individual for completion, in accordance with the credit union’s standard operating procedures. Once all the workflow-related activities are completed, the web form and all operational audit trails are automatically archived, fully-indexed and moved into the credit union’s imaging system.

From March to July, FCCU offered a hardship agreement for mortgage loans. Using Web Forms the credit union could allow members to complete these documents remotely, eliminating any need for the members to engage in in-person contact at the branches. FCCU also created a Web Form for members to apply for the U.S. Small Business Administration’s Personal Protection Program (PPP).

Austin Flynn, AVP Core Processing for FCCU, said, “We understand that the pandemic has truly changed people’s lives. Some members aren’t able to leave their homes while others are so busy they don’t have time to even think about banking. IMM has allowed us to adapt and make things easier by giving them more freedom to sign documents without coming into the branch. Having remote capabilities enables us to serve all of our members efficiently, and we are happy to have seen such a positive increase in digital transactions.

“IMM’s technologies have not only improved workflow for member services, but they have also streamlined our business processes across the back-office. From our perspective, the Web Forms that our member’s complete and sign remotely are identical to forms coming from in-person branches,” Flynn added.

According to Michael Ball, Vice President of Markets and Strategy for IMM, “Together with FCCU, we have been able to seamlessly implement our eSign and Web Form to Workflow solutions in a manner that addresses the credit union member’s needs, which have shifted due to COVID-19. Our technology provides FCCU with the tools needed to deliver an efficient digital member experience that insures the safety of the member and the credit union staff.”

About First Community Credit Union

First Community is the largest credit union in Missouri and among the Top 10 financial institutions in the region. The credit union has been operating for over 85 years and serves nearly 350,000 members. First Community is in the top 100 credit unions in the nation. Its mission is to provide quality products and affordable financial services. It serves all persons living and working in the communities of St. Louis County, St. Louis City, Franklin County, Jefferson County, St. Charles County, Warren County, and the Illinois counties of Madison, Monroe and St. Clair. For more information, visit www.firstcommunity.com.

About IMM

For 24 years, IMM has been the premier provider of eSignature and Digital Transaction solutions designed exclusively for financial institutions. Today, more than 1300 banks and credit unions use IMM’s eSignature and Digital Transaction Management solutions across the Institution to elevate consumer experiences while streamlining back-office processes in a comprehensive, end-to-end digital processing environment. For more information, visit www.immonline.com or call 1.800.836.4750.

Follow us on LinkedIn, Facebook and Twitter @IMMeSign.

Contacts

Anna Stanley / Catherine Laws

anna@williammills.com / catherine@williiammills.com
251.517.7857 / 678.781.7206

Categories
For Edit

‘People are complex.’ Meet 3 generations of a Georgia family.

Leading up to the state’s U.S. Senate runoffs, the Gamel family shared their thoughts on voting and the current political climate.

— NYT: Top Stories