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Exactly how severe are inventory shortages? {Market Report} January 27th

Exactly how severe are inventory shortages? {Market Report} January 27th
January 27, 2020 abryant

 

Being an adult is mostly being exhausted and wondering how you hurt your back.

I won’t be impressed with technology until I can download food.

The only reason I’m chubby is because a tiny body couldn’t store all this personality.

Some days you eat salads and go to the gym, some days you eat cupcakes and refuse to put on pants. It’s called balance.

 

Now The Market Report . . .

 

Stocks across the globe are taking a hit this week as investors react to mounting concerns about a deadly virus in China and its effect on travel and spending.

President Trump is threatening more tariffs on European auto imports if the bloc doesn’t agree to a trade deal. Trump has delayed imposing these tariffs a number of times.

Jobless claims rose slightly last week to 211,000 but were still lower than expected. The labor market continues to tighten, even as job growth is slowing.

 

New home builders can’t keep up with demand. Even with an above average pace of construction, it would take 4-5 years to get back to a balanced market.

Existing home inventory is just as bad, as supply in December hit the lowest level since tracking began in 1982. Current supply would sell out in just 3 months.

The huge imbalance between supply and demand contributed to a jump in prices. The median home price in December was up 7.8%, the biggest annual increase in almost 4 years.

 

“You can’t wait for inspiration. You have to go after it with a club.”
Jack London

 

Santa Clarita mortgages lender American Family Funding can help you fulfill your dream of home ownership. A highly rated Santa Clarita mortgages lender, American Family Funding maintains a focus on community involvement and a commitment to giving back whenever possible. A friendly mortgage advisor will make the first time homebuyer experience an easy and stress-free experience — even with bad credit or a low down payment. The Santa Clarita home loan officers at American Family Funding also specialize in VA loans, reverse mortgages, refinancing and the STAR Loan Program.

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