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How will housing supply look in 2020? {Market Report} December 9th

How will housing supply look in 2020? {Market Report} December 9th
December 10, 2019 abryant

 

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I think I may need professional help… A chef, a butler and a maid should be enough.

When I get tired of walking around shopping, I sit down and shop online.

I can’t finish cleaning up my room because I get distracted by all of the cool stuff I find.

One day you’re 18 eating pizza for every lunch, then suddenly you’re 30 and eating salad with celery and kale juice.

 

Now The Market Report . . .

 

The Fed meets next week for the last FOMC meeting of the year. A policy rate cut is not expected, but markets will be looking for signs of what may happen in 2020.

Trade talks with China continue on a ‘phase one’ deal. A trade deal is expected to boost the global economy, and a deal announcement could pressure mortgage rates higher.

The trade deficit dropped to its lowest level in nearly 1-1/2 yrs in October, suggesting trade could contribute to economic growth and higher rates in the 4th quarter.

 

Federal regulators expressed cautious optimism on the use of alternative credit models to expand access to credit and enable consumers to obtain more favorable rates and terms.

CoreLogic reports that October house prices were up 3.5% year-over-year. Prices increased month-over-month by 0.5%.

NAR forecasts the possibility of record low housing inventory in 2020. A shortage could lead to higher prices and make it even more challenging for buyers to find a home.

 

“Strive not to be a success, but rather to be a value.”
Albert Einstein  

 

This week’s potential market moving reports are:

 

Monday, December 9th:          No Reports Scheduled

Tuesday, December 10th:        Small business Index

Wednesday, December 11th:   MBA Mortgage Applications, Consumer Price Index

Thursday, December 12th:      Weekly Jobless Claims

Friday, December 13th:           Retail Sales

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