Home loan applications increased in early January, as a weaker-than-expected December employment report sent interest rates lower. Home loan rates had been on the rise up until the report, and just as the Fed announced its decision to “taper” its Bond-buying stimulus efforts.
Sonoma County: Sonoma County inventory rebounded in January 2014 adding 384 new listings for the month. The inventory of single-family homes and condominiums for sale at the end of January stood at 600 compared to 592 a year ago.
We’re not sure why so little is written about the process of moving … perhaps anyone having recently done so wants to forget the trauma as quickly as possible.
A weaker-than-expected December employment report sent interest rates lower, resulting in more home loan applications in early January.
We have been tracking the Sonoma Valley Adult (55+) Community real estate market for over 20 years and have been providing reports such as this as a community service. We have found that a good table is equal to a good photo in getting a lot of information across quickly.
2013 Results for Sonoma County, Napa County and Wine Country: According to figures from BAREIS MLS system, for the year, Sonoma County had 5,599 residential properties sold. This compares to 6,125 a year ago – a decrease of 8.6%. The dollar volume for 2013 was $2.8 billion, 11.7% higher than the sales volume of $2.5 billion in 2012. The average price increased 22% from $416,000 in 2012 to $508,000 in 2013.
The big “will-they or won’t they” ended last month with the Fed’s mid-December announcement that it would begin tapering its economic stimulus efforts. Federal Reserve Chairman Ben Bernanke’s decision to scale back on Bond and Treasury purchases by $10 billion signaled that the economy has showed sufficient ability to play on its own, albeit, on a kid leash.
In mid-November, Janet Yellen, President Obama’s choice to replace Federal Reserve Chief Ben Bernanke, indicated that she would likely continue with the Fed’s economic stimulus efforts, known as Quantitative Easing.
As the Government Shutdown stretched into mid-October, a last minute deal by House Republicans and Democrats was reached just before the debt ceiling deadline on October 17.
Sonoma County: Sales dropped in September for the second straight month and the inventory of unsold homes rose for the eighth month in a row in Sonoma County. There were 947 homes and condominiums for sale at the end of September compared to 930 at the end of August. Inventory is actually 1.8% higher than… Continue Reading >>
The last quarter of 2013 is officially here, and it could prove to be another volatile one. As we head toward the new year, there are several key stories to monitor, as they could have a big impact on home loan rates. To Taper or Not to Taper One of the biggest headlines over… Continue Reading >>
Market Conditions for Single-Family Homes – Sonoma, CA
Sonoma County: Sales dropped in August after rebounding in July and the inventory of unsold homes rose for the seventh month in a row in the County of Sonoma. Inventory was 930 units at the end of August compared to 866 units at the end of July. Inventory is just 4% below the inventory of… Continue Reading >>
The Federal Reserve minutes in mid-August narrowed speculation regarding how soon the Fed would begin “tapering” $85 billion in monthly bond purchases. Policy makers were “broadly comfortable” with the plan if the economy continues to improve. All told, as the economy improves, home loan rates may continue to adjust further. Prior to the announcement, stock… Continue Reading >>
At a Washington news conference in late June, Fed Chairman Ben Bernanke confirmed that the Fed would “taper” its efforts to help stimulate the U.S. economy. And despite the average 30 year fixed rate hovering around 4.5 percent from 3.35 percent in early May, he suggested the housing market may be strong enough to withstand… Continue Reading >>