Morning Briefing: ​Trump sells NYC penthouse for $21 million

by Steve Randall28 Jul 2015
Trump sells NYC penthouse for $21 million
Donald Trump has sold his New York penthouse for $21 million! The five-bedroom, seven-bathroom home covering 6,200 square feet is in the Trump Park Avenue building. Real estate agent Michelle Griffith told the Wall Street Journal that the potential future president never lived in the penthouse. Despite the lofty price tag it is a far cry from its 2013 value of $35 million according to public records. Trump International Realty’s Griffith said that the 24th floor home could have been rented, as an offer of $80,000 a month had been made, but that her boss believed now was the time to sell.
Housing market booming in Iowa
Home sales in Iowa are up almost 10 per cent from a year ago according to new figures from the state’s realtors’ association. Sales increased 9.7 per cent with 4,749 homes were sold last month compared to 4,329 homes that sold in June 2014. Active listings were up 3.7 per cent and pending listings were up 7.6 per cent year-over-year. The IAR’s 2015 June Housing Trends Report shows the median sale price rose 6.0 per cent to $143,900 while the median price was $152,500.
“Buyers are realizing that it is still a good time to buy with relatively low interest rates. Homeowners are hearing that homes are selling fast with low inventory levels. It is a great time for them to put their homes on the market,” said IAR President, Jon Yocum. Days on market of 77 days hit a new low when comparing second quarter performance of this year to the past eight years. 
One thing standing in the way of a hotter housing market
Although many areas are reporting strong results for home sales there is one thing standing in the way of even hotter markets according to the CEO of paint producer Sherwin Williams – the rain! The company reported weakened sales of its products in its recent quarterly report and last week chief executive Chris Connor said that poor weather in 24 states meant that contractors were unable to use existing paint stocks or to buy more. Connor told the Business Insider: “Residential building permits were up 25 per cent year-over-year in May, while actual starts were up only 5 per cent. Year-to-date, residential permits have increased at twice the rate of starts.” 


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