What's up with the housing market? | October 28th

National Housing Report: October 28th

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!

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  • The Economy

    • September’s factory orders for big-ticket manufactured goods tumbled by the largest amount in 4 months, indicating continuing struggles in the industry.
    • Stocks improved this week as corporate earnings results helped investors shrug off signs that global growth is losing momentum.
    • Despite an overall slowing economy, jobless claims fell last week. A strong labor market boosts consumer confidence and the economy.

    Housing News

    • The FHFA reports home prices rose 0.2% in August from July were up 4.6% year-over-year.
    • New home sales fell 0.7% in September, as low inventories continue to weigh on sales. The median new home price is $299,400, and 8.8% drop from a year ago.
    • The latest housing trend is backyard “accessory dwelling units,” small second homes used for rentals or additional guest living space.

     

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