Faith Life Trading LLC’s Post

Name: Faith Life Trading LLC on LinkedIn: #marketwatchmonday #beverlyhillsrealestate #nationalmarkettrends…
Uploaded: 2024-09-30T18:59:49.166Z
Duration: 3 min 16 s
Channel: Faith Life Trading LLC
Description: Happy Market Watch Monday! 🏡✨ Sharing the latest updates on both the Beverly Hills and national real estate markets. Whether you’re buying, selling, or just staying informed, I’ve got you covered! Let’s navigate these trends together! #MarketWatchMonday #BeverlyHillsRealEstate #NationalMarketTrends #RealEstateExpert

Faith Life Trading LLC

6 followers

3mo

Happy Market Watch Monday! 🏡✨ Sharing the latest updates on both the Beverly Hills and national real estate markets. Whether you’re buying, selling, or just staying informed, I’ve got you covered! Let’s navigate these trends together! #MarketWatchMonday #BeverlyHillsRealEstate #NationalMarketTrends #RealEstateExpert

Transcript

Hello, my name is Faith. I'm a real estate agent with Keller Williams Beverly Hills. Welcome back to my MarketWatch Mondays real estate news. In brief for the week, aggressive Fed rate cut. the Fed kicked off its new easing cycle with A50 basis point rate cut on Wednesday, lowering the short term policy rate to four and 75 to 500. Be passive builder confidence rises. The NAHB Confidence Index increased by two points to 41 in September, driven by a four point rise in future expectations, signaling cautious optimism despite overall bearish sentiment. Retail sales flattish Retail sales group .1% Mom in August, slightly beating expectations. Given 2/3 of US GDP relies on consumption, this trend remains critical. More cuts ahead Fed members project 50 BP as in rate cuts by year end 2024 and another 100 BP through 2025. New construction bounces in August. New home permits 5%, MOEM starts plus 10% and completions 9% saw solid gains. Multifamily construction surged to levels not seen since 1975, with 60% of new builds in the South likely pressuring. Rental rates. Existing home sales struggle despite lower mortgage rates. August Existing home sales fell 2.5% MOEM to an annualized 3.86 million units, the lowest since October 2023. High prices. The previous rate peaks still impact demand, with affordability remaining a key issue with fewer homes selling above list price and fewer offers per home. However, they expect buying activity to increase in the next three months due to sharply lower mortgage rates. Filters more optimistic Realtors are seeing less competition compared to last year, with fewer homes selling above list price and fewer offers per home. However, they expect buying activity to increase in the next three months due to sharply lower mortgage rates. Why did mortgage rates rise after the Fed cut? While the Fed influences rates, it doesn't set mortgage rates directly. Mortgage rates are driven by market forces like bond yields, lender decisions and demand. Before the Feds rate cut, the market had already anticipated it, with mortgage rates falling from 7.3% to 6.11% since April. This pre priced expectation meant the rate cut had little immediate impact. In short, market expectations often affect rates ahead of actual Fed moves. The Feds 50 Bulpitt cut is just the start of a broader normalization process. Mortgage market update After the 50 BPS cut, the Fed funds rate is now 4.75 to 5.0 percent. Upcoming odds for rate cuts November 758% chance of a 25 BPS cut, 42% for 50 BPS December 1849%. Chance rates will be 75 BP is lower than current levels. Please stay tuned for more updates.

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Happy Market Watch Monday! 🏡✨ Sharing the latest updates on both the Beverly Hills and national real estate markets. Whether you’re buying, selling, or just staying informed, I’ve got you covered! Let’s navigate these trends together! #MarketWatchMonday #BeverlyHillsRealEstate #NationalMarketTrends #RealEstateExpert

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