Marques Gee Group

Joel Kan, Economist at The Mortgage Bankers Association (MBA) notes: Applications for home purchases continue to recover from April’s sizable drop and have now increased for five consecutive weeksGovernment purchase applications, which include FHA, VA, and USDA loans, are now 5 percent higher than a year ago, which is an encouraging turnaround after the weakness seen over the past two months. https://www.keepingcurrentmatters.com//why-this-summer-i/

SoCal home inventory rebound petering out. The demand for homes is greater than the quantity supplied at the given prices. This is also called a shortage. BUT, listings point to a slow recovery. New listings include existing single-family homes only [see graph].

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