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Know How Much Costs and Values of Industry Products has Changed Overtime

With the country looking forward to its 236th celebration of the adoption of the Declaration of Independence and real estate professionals (especially those who has a NY Real Estate CE credits) anticipating home costs to go up with the real estate market reviving, Americans all across the 50 states are looking back and are being reminded of the costs of independence, each one in truth too costly to put a value to. But mundane things had their mundane values and the costs are each a kind of milepost for reckoning how much the nation has moved forward since 1776 (or thereabout). For instance: a dollar in 1775 is equivalent to $29 today, making the value of coffee about 15 times greater than its price 236 years ago. In 1776, one checkerboard with pieces cost 2 shillings, 6 pence in Richmond County, Virginia while one double-barreled gunthe same firearm that figured in various skirmishes between the American colonists and the British redcoatsfetched 3 pounds (the British currency was in use then), the same cost for 20 gallons of orange peel cordial. The cost of living in America has jumped 15 fold since the Declaration of Independence was signed, but thats small Idaho potatoes compared with how much the value of land has risen in some parts of the country since 1776. For instance, the land in New Yorks Central Park is now worth several thousand times what it was in 1776. As todays pending home sales rebound and home prices rally, the nation is reminded that things such as real estate properties and homes may each have a price, but independence is priceless. Meanwhile, pending sales of existing homes rebounded to a two-year high in May after dropping in April and giving some industry observers the heebie-jeebies. According to the National Association of Realtors (NAR), the latest Pending Home Sales Index, improved by a seasonally adjusted 5.9 percent from April to May, climbing to 101.1 and equaling the high registered in March 2012. NAR said it is also the highest index level since April 2010. A Pending Home Sales Index of 100 equals the average level of sales-contract activity in 2001, a good year for home sales. "The housing market is clearly superior this year compared with the past four years," declared Lawrence Yun, NAR's chief economist, in a press release. "Actual closings for existing-home sales have been notably higher since the beginning of the year and were on track to see a 9 to 10 percent improvement in total sales for 2012." The Midwest posted the largest unadjusted year-over-year increase in pending sales: 22%. The Northeast, meanwhile, had the second-biggest unadjusted year-over-year jump at 19.3%. The West gave the index its highest level at 108.7, although pending sales, unadjusted, were up only 7.1% from a year ago. The South saw pending sales, unadjusted, rise 14% from the same time a year ago.

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