Weekly Market Observations - August 1, 2023
Tuesday, August 01
Here’s Our Weekly Market Observations : The Fed hikes rates 0.25% to a 22 year high US Q2 GDP grew at 2.4% Pending home sales in June up 0.3% from May but down 15.6% YOY CBRE survey shows many believe cap rates are peaking Average 30-year fixed mortgage rates up slightly to 6.81%
Weekly Market Observations - July 25,2023
Tuesday, July 25
Here’s Our Weekly Market Observations : Recession predictions now 50% or less according to business economist survey June home resales drop 18.9% YOY, a 14 year low Median home resale prices increased to $410k in June, the 2nd highest price on record since 1999 The Fed is encouraging banks to wo...
Housing Market Fundamentals
Monday, July 24
There continues to be a lot of negativity surrounding the real estate market. Contrary to most news headlines, the housing market fundamentals remain strong. It all comes down to supply and demand: Steady Demand: Rising mortgage rates have decreased the demand for housing, but demand remains str...
Weekly Market Observations — July 18,2023
Tuesday, July 18
Here’s Our Weekly Market Observations : Inflation shows signs of easing with CPI increasing only 0.2% in June, less than expected Median home sales price near record high of $426k US apartment demand remains below average but increasing sharply Average 30-year fixed mortgage rates up slightly to...
Weekly Market Observations — July 12, 2023
Wednesday, July 12
Here’s Our Weekly Market Observations : NAR reports US home showings down 4% YOY in May, the lowest in nearly a decade New construction sales increase 12.2% in May while resales decline Home prices expected to grow “convincingly” in 2024 Average 30-year fixed mortgage rates up slightly to 6.81%
Weekly Market Observations - July 4, 2023
Tuesday, July 04
Here’s Our Weekly Market Observations : Pending home sales fell 2.7% in May from April and 22.2% YOY The South region counts for over half of all US multifamily construction Dallas bans short-term rentals in single-family neighborhoods Mortgage rates trending back up after falling for three weeks...