Weekly Real Estate Update

July 13, 2023

Market Update - Week of 7/14/2023

Young woman holding keys hugging husband in front of their new home after buying real estate

The labor market continues to shrug off various headwinds and record solid gains. Fears of recession have faded somewhat, although the tight labor market may also keep inflation stubbornly high and prevent the Fed from taking their foot off the gas on interest rates. In addition, the Treasury market ...

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July 6, 2023

Market Update - Week of 7/7/2023

 
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The U.S. economy survived the first half of 2023 without going into a recession, as consumers turned out to be more resilient than most economists expected. Despite going through high inflation rates, banking crisis, and debt ceiling issues in the first six months of the year, consumers ...

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June 22, 2023

Market Update - Week of 6/23/2023

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The Federal Reserve met last week and decided to pause rate hikes in their latest FOMC meeting. While the Committee held the fed funds rate steady this time around, Fed Chairman Powell suggested that they are prepared to raise rates a couple more times, or another 50 bps, this ...

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June 9, 2023

Market Update - Week of 6/9/2023

Mortgage rates have started trending down for several days after having risen above 7% as worries over the debt ceiling reached fever pitch. And despite higher rates in May, the U.S. labor market showed little signs of cooling down as employers added nearly 340,000 new jobs last ...

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June 2, 2023

Market Update - Week of 6/2/2023

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It has been a busy week in economic news, with the approval of the debt ceiling bill and the release of strong jobs numbers. Now that the debt ceiling debate is behind us, mortgage rates have started to decrease. Here are the key highlights from this week:

 

Strong ...

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May 26, 2023

Market Update - Week of 5/26/2023

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This week’s economic data continues to suggest the U.S. economy is only gradually losing momentum. Consumers continued to spend, albeit at a slower pace, and industrial and housing activity are seeing some stabilization. Homebuilders’ sentiment pulled out of negative territory for the first time in nearly a year ...

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May 18, 2023

Market Update - Week of 5/19/2023

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We have some exciting news to share about the current state of the housing market:

 

Home Purchase Sentiment Soars: According to the Fannie Mae Home Purchase Sentiment Index® (HPSI), consumer optimism regarding mortgage rates has increased significantly. In April, the HPSI reached its highest level since May 2022 ...

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May 11, 2023

Market Update - Week of 5/12/2023

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Hope everyone has a great Mother's Day weekend! 

 

Last week, the Fed enacted its 10th rate hike in its battle against inflation. They hinted that it may be the last but reiterated that much depends on incoming data as uncertainty on the health of the banking system ...

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May 5, 2023

Market Update - Week of 5/5/2023

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Federal Reserve raises rates: The Federal Reserve approved its 10th interest rate increase in just a little over a year and dropped a tentative hint that the current tightening cycle is at an end. The widely expected decision, which takes the fed funds rate to a target range of ...

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April 29, 2023

Market Update - Week of 4/28/2023

A glowing sunrise over Belmont Shore in Long Beach_ California.

Moderately higher interest rates held California home sales essentially flat in March, totaling over 280,000 on a seasonally adjusted annualized rate for the second consecutive month. The competitiveness in the housing market, however, continues to heat up as homes are selling faster and the sales-to-list-price ratio is improving ...

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