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50% of Ventura County Homes Sold in 30 Days in March, No CA Recession
1217 Nautical Way, Oxnard, CA 93030 is for LEASE!!
Some Highlights: The National Association of REALTORS® recently surveyed their members for their Confidence Index. The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions. Homes sold in less than 60 days in 35 out of 50 states and Washington D.C. Homes typically went under contract in 30 days in March! No Suprises The employment report for April produced no surprises. Job gains remain relatively strong, the unemployment rate continues to tighten, and wage growth is ahead of inflation. It is curious that wages and salaries are not rising faster given the tightness of the labor market. This is disappointing for workers but it will keep the Fed on track for three rate hikes this year because inflation remains predictably in check. It’s likely that stock market volatility will also subside, at least for the meantime.
Why the Probability of Recession is So Low The probability of recession rose in March but still remains low. The odds of a recession this year should be low because recessions ... more
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