Found 3 blog entries tagged as Compass national trends.

Inflation ticked down in the early March reading; the Fed again kept its benchmark rate unchanged; and interest rates remained well below 7%. Amid high volatility, stock markets saw substantial declines, then some recovery through the 3rd week of March. Consumer confidence continued to fall across all population segments by age, education, income, wealth, political affiliation, and region, and expectations for personal finances, jobs, inflation, business conditions, and financial markets all declined (per University of Michigan’s early-March “Surveys of Consumers”). 

Generally speaking, the broader market is typically more affected by interest rates, i.e. affordability, while higher-price home sales are more influenced by stock markets, i.e. changes in…

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On December 18th, the Fed dropped its benchmark rate for the 3rd time since summer, by another quarter percent, but suggested only 2 further reductions in 2025 – which was not what investors and bond markets wanted to hear. This caused stock markets to fall from recent highs and mortgage interest rates to spike up, but, so far, these are very short-term reactions and may quickly change course again. In early December readings, the U.S. jobs report rebounded, inflation ticked up slightly, and consumer confidence hit its highest point in 7 months. And, as of the date of this report, a government shutdown looms once again due to the inability of Congress to agree on a spending bill. 

  • National existing-home sales in November 2024 fell 9.5% from…

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October 2024 Market Summary

  • U.S. existing-home sales in October 2024 rose 5.5% from September and 5% from October 2023. Year over year, the median single-family-home sales price and median condo/co-op sales price were up 4.1% and 1.6% respectively.

  • The number of listings for sale increased slightly from September, and jumped 19% from October 2023:  In recent months, inventory has generally been running at its highest count in 4 years but remains far below pre-pandemic norms. Price reductions in October were up 17% year-over-year.

  • Approximately 59% of sales went into contract in less than 1 month (vs. 66% in 10/23), 19% sold over list price (vs. 28% in 10/23), and 27% of buyers purchased all-cash. The median days-on-market to…

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