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Find out how consumers feel about the housing market! {Market Report} February 12th

Find out how consumers feel about the housing market! {Market Report} February 12th
February 12, 2021 abryant

Please enjoy this quick update on what happened this week in the housing and financial markets.




I’m not fat, but I’m not thin either. I’m at that point where you can definitely tell I like chocolate cake.

I wonder if clouds look down at me and say, “That one looks like an old, fat man.”

I think my days are backwards…I wake up tired and go to bed wide awake.

When your parents ask, ‘Do you want a piece of advice?’ it is a mere formality. It doesn’t matter if you answer yes or no. You’re going to get it anyway.

What I really like about Valentine’s Day…is discounted chocolate on February 15th!!!



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Now The Market Report . . .

Consumer prices rose moderately in January, and underlying inflation remained benign. The pandemic continues to be a drag on the labor market and services industry.
Despite a reported unemployment rate that has fallen to 6.3%, Fed chair Jerome Powell said the rate is actually closer to 10% and is “a long way” from where it needs to be.
Jobless claims continue to decrease weekly, with 793k new applications last week. That is well below the record 6.867 million applications last March when the pandemic hit.
Consumers were more positive about home selling conditions in January. The measure jumped 16 percentage points month over month in a recent FNMA survey.
More than 33% of homes are now considered “equity rich,” according to a recent ATTOM survey. Equity rich is defined as owing less than 50% of the home’s value in loans.
Although overall mortgage applications fell slightly last week, purchase applications were down only about 5% from the previous week and were up 17% over last year.
“Don’t aim for success if you want it; just do what you love and believe in, and it will come naturally.”
David Frost

Next weeks potential market moving reports are:

Monday, February 15th – Presidents Day – Markets Closed
Tuesday, February 16th – No Reports Scheduled
Wednesday, February 17th – Retail Sales, FOMC Minutes, Industrial Production
Thursday, February 18th – First Time Jobless Claims, Housing Starts, Building Permits
Friday, February 19th – Existing Home Sales