Gitty the Realtor

Here are the residential real estate statistics for Los Angeles County zip codes for February 2021 #losangelescounty #realestate #home #resale #activity #february2021

Economic update for the week ending January 16, 2021 Stock markets dropped as COVID-19 related job losses surge - Stock markets fell off their all-time highs la...st week as investors feared that the economic business closures may last longer than expected due to what appears to be an out of control spread of COVID-19, and a vaccination process that has failed to live up to the numbers expected. Stocks were hit even harder on Thursday after it was reported that initial unemployment claims rose sharply last week. They were over 1 million for the first time since July. The Dow Jones Industrial Average closed the week at 30,814.26, down 0.9% from 31,097.97 last week. It is up 0.7% year-to-date. The S&P 500 closed the week at 3,768.25, down 1.5% from 3,824.68 last week. It is up 0.3% year-to-date. The NASDAQ closed the week at 12,998.50, down 1.5% from 13,201.98 last week. It is up 0.9% year-to-date. U.S. Treasury bond yields - The 10-year treasury bond closed the week yielding 1.11%, almost unchanged from 1.13% last week. The 30-year treasury bond yield ended the week at 1.85%, almost unchanged from 1.87% last week. We watch bond yields because mortgage rates often follow treasury bond yields. Mortgage rates - The January 14, 2021 Freddie Mac Primary Mortgage Survey reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate was 2.79%, up from 2.65% last week. The 15-year fixed was 2.23%, up from 2.16% last week. The 5-year ARM was 3.12%, up from 2.75% last week. Unfortunately, rates increased late in the week. Next week’s mortgage rates will be higher. California existing home sales - The California Association of Realtors reported that existing, single-family home sales totaled 509,750 on an annualized basis in December. That represented a year-over-year increase of 28% from the 398,370 annualized rate of homes sold in December 2019. It was the highest number of monthly home sales in 15 years, and most homes ever sold in December. Home sales are homes that closed escrow. Pending home sales are new contracts signed. Those are at near-record levels as well. For the entire year of 411,870 homes sold, up 3.5% from 397,960 homes sold in 2019. That number is pretty incredible considering home sales were down almost 30% at the end of June. There was a record number of sales in the second half of the year. The median price paid for a home in California was $717,930, up 16.8% from the median price of $659,380 last December. Inventory levels were lower than one year ago. There was just a 1.3-month supply of homes for sale in December, down from a 2.5-month supply one year ago. The current supply of homes was almost unchanged from September and October, as a record number of new listings were taken in November but sold quickly. Below please find a graph of regional statistics for Southern California. See more

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Here are the residential real estate statistics for Los Angeles County zip codes for November 2020. #losangelescounty #realestate #home #resale #activity #November

Economic update for the week ending December 12, 2020 Stock markets closed lower this week after three weeks of gains - Stocks dropped slightly as new unemploym...ent claims surged for a second week. This was a result of layoffs due to increased shutdowns of non-essential businesses throughout the country. Markets held up well considering the exponential spread of new COVID-19 cases, because the FDA moved toward approval of the Pfizer COVID-19 vaccine. It’s the first of several vaccines to be approved. Experts report that vaccinations will start as early as Monday. A long-awaited COVID-19 relief bill failed to materialize again this week. It was reported that a deal was going to be approved on Monday, but fell apart later in the week as the sides could not agree on key issues. An emergency stop-gap one-week spending bill to fund the government averted a shutdown for a week. Hopefully, a COVID-19 relief bill will be attached to a more permanent government funding bill. The Dow Jones Industrial Average closed the week at 30,046.37, down 0.6% from 30,218.26 last week. It’s up 5.4% year-to-date. The S&P 500 closed the week at 3,663.46, down 0.1% from 3,699.12 last week. It is up 14.8% year-to-date. The NASDAQ closed the week at 12,377.87, down 0.7% from 12,464.23 last week. It’s up 38.2% year-to-date. U.S. Treasury bond yields - The 10-year treasury bond closed the week yielding 0.90%, down from 0.97% last week. The 30-year treasury bond yield ended the week at 1.63%, down from 1.73% last week. We watch bond yields because mortgage rates often follow treasury bond yields. Mortgage rates - The December 10, 2020, Freddie Mac Primary Mortgage Survey reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 2.71%, unchanged from 2.71% last week. The 15-year fixed was 2.26%, unchanged from 2.26% last week. The 5-year ARM was 2.79%, down from 2.86% last week. November home sale figures will be released next week. CAR will be reporting that November home sales rose above 500,000 units on an adjusted annualized rate for the first time in 11 years! It’s the highest number of sales in November ever and will represent a year over the increase of approximately 20% of the number of homes sold last November. Prices will also show an increase of nearly 20% year over year. Price increases in the last quarter added over $1 trillion in home equity. Showings last week also increased. They were 170% above the number of showings for the same period one year ago. It is surprising to see such results in the middle of a pandemic! Have a great weekend!

Economic Update For The Month Ending November 30, 2020 Stock markets soared in November - Investor's drove stock market indexes to record highs in November. The... rally was fueled by positive news from several vaccine trials revealing that some of the vaccines were 90-95% effective. The FDA indicated that an emergency approval of at least two vaccines would allow people to start to be vaccinated in the coming weeks. This drove stocks even higher. The Dow Jones Industrial Average closed the month at 29,638.64, up 11.8% from 26,501.60 last month. The S&P 500 closed the month at 3,621.63, up 10.8% from 3,269.96 last month. The NASDAQ closed the month at 12,198.74, up 11.8% from 10,911.59 last month. U.S. Treasury bond yields - The 10-year treasury bond closed the month yielding 0.84%, down from 0.88%, last month. The 30-year treasury bond yield ended the month at 1.58%, down from 1.65% last month. Mortgage rates - The Freddie Mac Primary Mortgage Survey released on November 25, 2020 reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 2.72%, down from 2.81% last month. The 15-year fixed was 2.28%, down from 2.32% last month. The 5-year ARM was 3.18%, up from 2.88% last month. October Job gains beat expectations -The Department of Labor Statistics reported that the U.S. economy added 638,000 new jobs in October. The unemployment rate dropped to 6.9% in October from 7.9% in September. These numbers beat analysts' expectations of 530,000 new jobs and an unemployment rate of 7.7%. It should also be noted that private employers added 906,000 jobs, but 268,000 government jobs were lost in October. That included 147,000 census workers that were hired to complete the census count, which is now concluded. November figures will be released Friday. Home sale data is released on the third week of each month for the following month. Below are October's results. Existing-home sales and prices continue to soar in October - The California Association of Realtors reported that existing, single-family home sales totaled 484,510 on an annualized basis in October. That represented a year over year increase of 19.5% from the number of homes sold in October 2019. The median price paid for a home in California was $711,300, up 17.5% from the median price last October. Inventory levels were lower than one year ago. There was just a two-month supply of homes for sale in October. That is unchanged from September, as new listings also increased to meet demand. One year ago, the unsold inventory index stood at a 3-month supply. Below please find regional statistics for Southern California. U.S. Existing-home sales climb in October - The National Association of Realtors reported that existing home sales in October rose 4.3% month-over-month from September and rose 26.6% year-over-year from the number of homes sold in October 2019. The median price paid for a home increased 15.5% from one year ago. That marked the 104th straight month of year-over-year increases in the median price. The inventory level in the United States was 1.42 million homes, a 2.5-month supply. That's a record low. There was a 2.7-month supply last month and a 3.9-month supply in October 2019.

Here is the home sale trend report for Los Angeles county for the 3rd Quarter 2020.

Here is our November 2020 Events Calendar which has some great ideas for things to do around Los Angeles this month...