GENNA WALSH
  • Home
  • About
  • SOLD
  • Reviews
  • Property Search
  • Resources
    • Buyer
    • Seller
    • Escrow
    • Consultant Services
  • Blog
  • Careers
  • Contact
  • Home
  • About
  • SOLD
  • Reviews
  • Property Search
  • Resources
    • Buyer
    • Seller
    • Escrow
    • Consultant Services
  • Blog
  • Careers
  • Contact
Search by typing & pressing enter

YOUR CART

1/25/2020 0 Comments

Economic update for the week ending January 25, 2020

Picture
Economic update for the week ending January 25, 2020

Stock markets lower for the week - After several weeks of steady gains, stocks declined moderately from all-time highs this week. The Dow Jones Industrial Average closed the week at 28,989.73, down 1.2% from 29,348.10 last week. It’s up 1.6% year to date. The S&P 500 closed the week at 3,295.47, down 1.0% from 3,329.62 last week. It’s up 2.0% year to date. The NASDAQ closed the week at 9,314.91, down 0.8% from 9,388.94 last week. It’s up 3.8% year to date. 

U.S. treasury bond yields lower week – The 10-year treasury bond closed the week yielding 1.70%, down from 1.84% last week. The 30-year treasury bond yield ended the week at 2.14%, down from 2.29% last week. We watch treasury bond yields because mortgage rates often follow bond yields. 

Mortgage rates - The Freddie Mac Primary Mortgage Survey released on January 23, 2020 reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 3.60%, down slightly from 3.65% last week. The 15-year fixed was 3.04%, almost unchanged from 3.06% last week. The 5-year ARM was 3.28%, down from 3.39% last week. 

California existing home prices surged in December - The California Association of Realtors reported that existing home sales totaled 398,880 in December on a seasonally adjusted annualized rate, up 7.4% from December 2018. The median price paid for a home in December was $614,090, up 10.3% from December 2018. That marked the largest year over year price increase since May 2014, and the first double digit year over year price increase in 5 1/2 years. Inventory levels continued to drop. There was just a 2.5 month supply of homes listed for sale in December, down from a 3.5 month supply one year ago. Inventory levels dropped 26.5% from one year ago, and December marked the lowest inventory level in 7 years. On a regional basis, in Los Angeles County the median price increased 9.0% year over year. In Orange County the median price increased 7%. In Ventura County the median price increases 2.7%.  

U.S. Existing home sales surged in December - The National Association of Realtors reported that the number of existing homes sales surged 10.8% in December, from the number of homes sold nationwide in December 2018. The median price increased 7.8% year over year in December. That marked the 94th straight month of year over year price increases. There was a 3 month supply of homes for sale, down from a 3.7 month supply last December. 

Author, 
​Syd Leibovitch
0 Comments



Leave a Reply.

    Author

    Genna Walsh
    Los Angeles, CA

    Archives

    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    July 2014
    June 2014
    May 2014
    April 2014

    Categories

    All Community Economics Education Entertainment Environmental Food Real Estate Recreation Science Sports

    RSS Feed

Genna Walsh | DRE #01949299
Picture