Is It a Good Time to Buy Real Estate?
Interest rates say “buy now”! The strong economic news boosted stocks at the expense of bonds. Since home loan rates are tied to mortgage bonds, both bond and home loan rates worsened last week. However, home loan rates remain attractive and near some of the best levels seen this year.
Pending home sales jumped 6.1 percent from April to May. This was the largest monthly gain since April 2010, when buyers were chasing the homebuyer’s tax credit.
The June Jobs Report showed that 288,000 new jobs were created, while the figures for April and May were revised higher by a total of 29,000. Through the first six months of 2014, job creations have averaged 231,000 jobs per month, a 19 percent increase from the same period in 2013.
The unemployment rate fell to 6.1 percent from an expected rate of 6.3 percent, matching the lowest level since September 2008, a decent report and a meaningful lift in labor market activity.
Leslie Kilpatrick, President of the Greater San Diego Association of Realtors, wrote, “The market remains fundamentally strong with recent price gains, shortened market times and low interest rates. The number of active listings recently surpassed 7,000 for the first time in two years yet that only represents three months of inventory. Resale homes are on the market an average of a brief forty days. The median price point of single-family homes reached $500,000 in May for the first time in seven years. Underneath all that, we are facing a long term housing shortage and rising rents in a recovering economy. The time to invest in San Diego is now.” (Excerpt taken from www.utsandiego.com June 27, 2014: Has the next housing recession started?)
Call 858-243-5278 or email firstname.lastname@example.org, and we’ll find you the special home you’ve been looking for!
Dan Conway & Associates is proud to announce our new affiliation with Pacific Sotheby’s International Realty. We’re still located at 3860 Valley Centre Dr. Suite 409, San Diego, CA 92130 in the Piazza Carmel Shopping Center next to Vons. Stop in for your customized list of homes for sale.
CA DRE LIC #01885744
3860 Valley Center Dr.
Suite 409, San Diego, CA 92130
www.danconwaySOLD.com | Dan@conwayre.com