Blog
Election and Rates
November 20, 2024
With the election and the latest Fed's rate cut announcement behind us, housing market activity will hopefully pick up in the next few weeks before the year ends.
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NAR Settlement and Rule Changes
September 12, 2024
The market has been relatively quiet in the lead up to the Federal Reserve's meeting on interest rates the week of Sept 17th. Although recent economic data remains relatively strong, markets remain optimistic that the key policy rate will be cut by the Federal Open Market Committee.
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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
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
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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Ben Anderson
License DRE# 01369906
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1111 Prospect Street, Suite 100, La Jolla, California 92037
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1111 Prospect Street, Suite 100, La Jolla, California 92037
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