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New Home Sales | April 2023
New Home Sales, which measure signed contracts on new homes, rose 4.1% from March to April to a 683,000- unit annualized pace. Sales are at their best level in thirteen months, and they were also 11.8% higher than in April of last year. The median sales price fell from $455,800 in March to $420,800 in…
Read MoreWhat to Look for This Week
Inflation will be the top story, with April’s Consumer Price Index releasing on Wednesday 5/10/2023. Look for the Producer Price Index on Thursday 5/11/2023, which will give us news on wholesale inflation. Also of note, the latest data on optimism among small businesses will be reported by the NFIB on Tuesday 5/9/2023. Jobless Claims will…
Read MoreRecession Signal Flashing!!!!!
The Conference Board released their Leading Economic Index (LEI) for March, which was down 1.2%, falling to “its lowest level since November of 2020, consistent with worsening economic conditions ahead,” said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators. This report is a composite of economic indexes and can signal peaks and troughs in the…
Read MoreDown Payment Assistant Program
CalHFA to introduce the Dream for All Shared Appreciation Loan California state budget has established the Dream For All Program that allocate funds to help first time homebuyers get into their dream home. It is a down payment assistance program for first-time homebuyers to be used in conjunction with the Dream for ALL conventional first…
Read MoreFebruary Housing Market Update
Pending Home Sales rose 8.1% from December to January, which was more than expected. Sales were down 24.1% from a year ago, but was still an improvement from 33.9% decline in December. Pending Home Sales is a very critical data to show how the housing market is doing. Interest rates did rise following the Job…
Read MoreFHA Announcement
The FHA announced today 2/22/2023, that the annual mortgage insurance premiums has been reduced from 0.85% to 0.55% on the monthly. So the monthly payments would be dropped by 30 basis points of the loan amount. With such a big drop, it allows buyers to qualify better and could afford such a monthly premium. For…
Read MoreOctober Market Update
Gas prices have been climbing up since 1989. It went from less than $1.00 per gallon then to close to $1.60 in the 2000, and jumped to around $3.10 in 2010 and did not change for over 10 years till 2020. However, in 2021, the price went up from $3.20 in January to close to…
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