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Real Estate Gains Footing While Fed Policy Suggests Trouble Ahead
If you've followed my previous blogs, I've postured that the slowdown in real estate was a brief pause, rather than a substantial decline in the market.  February's existing home sales bounced back with a blistering 12% increase over January, but still down 2% year over year.....I'll take it!  The real estate market remains strong as we head into spring and I expect we'll see healthy numbers throughout the year. 
Interest rates took an unexpected drop this past week erasing increases we saw in the fourth quarter of 2018.  This is welcome news, rates are now solidly below 4.5% from a high of 5%, however, it's disconcerting when every time the Fed seems to be on the path of trimming the balance sheet, they pull back amid concerns over the economy.  The Feds. number one mandate is promoting employment growth, it's noteworhty that they've loosened monetary policy amidst a backdrop of 3.8 unemployment, and an economy growing north of a 2% clip.  My take, it's more about concerns over the sate of the world economy, and less a commentary of ours, but disconcerting nonetheless.
On to the numbers....
 
... more

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