The Austin-area housing market’s declining inventory and sales trends are creating an increasingly competitive housing market across all prices. Homes are selling faster than we can list.
Your Market Update In Minutes March3rd2017
|For the Week Ending March 3, 2017|
Please enjoy this quick update on what happened this week in the housing and financial markets.
|The idea of a Fed policy rate hike in March has gained steam, with an almost 80% expectation it will happen. Just last week there was only a 30% chance.|
|Consumer spending was down slightly in January, but manufacturing increased. The labor market remains strong, with jobless claims near a 44-year low.|
|Inflation recorded the biggest monthly increase in 4 years in January, raising the probability of a policy rate hike from the Fed this month.|
|Pending home sales were down slightly in January compared to December, blamed on higher mortgage rates and near record low supply.|
|However, strong demand and low |
|Construction spending was down slightly, but spending on private construction (like homes) was up. Spending on residential construction actually increased 0.5%.|
What do you call a fake noodle?
Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.
Credit to SNMC
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As I visit with people and/or overhear conversations, there seems to always be the question of when will this market turn? Not only when it will turn but will it be a repeat of the bubble we saw in