What's up with the housing market? | December 23rd

National Housing Report: December 23rd

Melody and I are pleased to bring you a weekly report on the mortgage and housing industry, as well as the economy. Weekly we will publish the following report from CoreLogic as a courtesy to you. For more detailed statistics about Utah real estate markets, look for our real estate market updates weekly!

The Economy

  • Orders for durable goods (products designed to last at least 3 years) fell 2% in November from October. This is the biggest month-over-month decline since May.
  • Stock indexes ticked higher in holiday-thinned trading as investors looked ahead to a promised trade breakthrough between the world’s biggest economies in January.
  • Jobless claims fell last week in a sign of ongoing labor market strength. Claims have been volatile in recent weeks around the holiday season and end of the year.

Housing News

  • New home sales rebounded in November, suggesting low mortgage rates continued to support the housing market. Sales activity in the prior month was weaker than reported.
  • According to the credit reporting agency Experian, the average American credit score surged to an 8-year high of 682 in 2019, hitting its highest level since 2011.
  • Housing affordability fell slightly in October compared to September, but affordability conditions improved year-over-year. The overall median sales price was $273,600.

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