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A Rise in Inventory

A Rise in Inventory

July 16, 2024

The short-term outlook for the housing market looked slightly more positive as interest rates moderated throughout the month of June and the supply condition continued to improve in the last couple of months.  With the job market showing signs of cooling in recent weeks, the economy could slow further in the next two quarters.  While the growth momentum could be cooling off for the U.S. economy, the housing market could benefit from the slowdown if the Federal Reserve reacts accordingly and starts reducing the policy rates in the near term.  

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Fed Funds Rate Unchanged

Fed Funds Rate Unchanged

May 09, 2024

The Federal Reserve 's Open Market Committee met early May and decided to leave the fed funds rate unchanged, citing a strong economy and inflation that has failed to make any progress over the most recent couple of months.  On the other hand, the most recent jobs data came in well below expectations at 175k, suggesting that the labor market cooling trend may have already started.  With a weaker than expected jobs report and the Fed hinting that a rate hike is unlikely, mortgage rates ended at the lowest levels since late March and provided hopes that rates may start to creep down as we approach the second half of the year.  The central bank also suggested; however, that it will likely hold rates at their current level longer rather than raise rates again.

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San Diego is #1

San Diego is #1

March 8, 2024

San Diego is #1!  San Diegans who own detached single family homes will be happy to hear that the value of their houses has continued to rise, more so even than any major city in the country. 

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Rates Drop 1% in Last 3 Months

Rates Drop 1% in Last 3 Months

January 18, 2024

Americans are feeling more confident about the housing market at the beginning 2024 as buyers and sellers start seeing a glimpse of hope at the end of the tunnel. 

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Are Home Prices Rising or Falling?

Are Home Prices Rising or Falling?

November 13, 2023

The housing market needed a break and the Federal Reserve delivered it at their latest FOMC meeting in early November.

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