Are we on our way back up on the US Stock Market?
Boy last week certainly played with our pocketbooks on the Stock Market. Thoughts of a comfortable senior life may have seemed fleeting looking at those results but hopefully this week we will be able to recapture some of our losses.
No one realized before the real financial crisis in our country how important our housing market is to the economy as a whole.
The stock market certainly impacts our Buyers and Sellers moving forward or staying put.
One young family last week had planned on an additional sum of money towards their down payment on their new home and were devastated that the market had dropped so much. Let's see where we go this week, they had a good plan but no one has a crystal ball.
Another couple over 65 were doing their planning with me last week for their home sale and new home purchase and the stock market results really shook their confidence in whether this is the right time to be making a move, how will their 401K and potential monthly income be affected. Although they would be moving from a larger more expensive home they had hoped to move to a very desired condo community with a steep (and well deserved) monthly home owner's association fee.
I suspect, we as real estate professionals, whether in residential or commercial, mortgages or sales, we will still be feeling the fall out of the beginning of 2016.
Mike King , a fantastic loan officer with Leader Bank is good to keep us updated with weekly information which impacts our housing market. Today Mike forwarded the economic indicators below to assist us in our planning and communications with our Clients. I especially appreciate the IMPACT column.
Economic Calendar for the Week of Jan 18 – Jan 22
| Date | Time (ET) | Release | For | Consensus | Prior | Impact |
| W Jan 20 |
08:30 | Consumer Price Index (CPI) | Dec | 0,0% | 0.0% | HIGH |
| W Jan 20 |
08:30 | Core CPI | Dec | 0,2% | 0.2% | HIGH |
| W Jan 20 |
08:30 | Housing Starts | Dec | 1.197M | 1.173M | Moderate |
| W Jan 20 |
08:30 | Building Permits | Dec | 1.200M | 1.289M | Moderate |
| W Jan 20 |
10:30 | Crude Inventories | 1/16 | NA | 0.234M | Moderate |
| Th Jan 21 |
08:30 | Initial Unemployment Claims | 1/16 | 280K | 284K | Moderate |
| Th Jan 21 |
08:30 | Continuing Unemployment Claims | 1/9 | NA | 2.263M | Moderate |
| Th Jan 21 |
08:30 | Philadelphia Fed Index | Jan | -4.0 | -5.9 | HIGH |
| F Jan 22 |
10:00 | Existing Home Sales | Dec | 5.12M | 4.76M | Moderate |
| F Jan 22 |
10:00 | Leading Economic Indicators (LEI) | Dec | -0.1% | 0.4% | Moderate |
MaryBeth Mills Muldowney, Massachusetts Real Estate Broker and Licensed Auctioneer
"The pessimist complains about the wind. The optimist expects it to change.
The Leader adjusts the sails." -John Maxwell
Founder and President, TradeWinds Realty Group LLC
MaryBeth@TradeWindsRealtyGroup.com
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MaryBeth - the stock market is such a psychological barometer and people get spooked with these drops.
Grant Schneider - oh so true, hate to say it but I am one of them too LOL!
MaryBeth, you are right, for some it's just numbers, but for many their way of life depends on it. Hopefully, the financial markets will stabilize.
Hi Marybeth the stock market downturn made long term mortgage rates more favorable. It'll be interesting how this plays out.
Thanks Joy Bender it certainly has been a roller coaster ride! Looking forward to smooth sailing!
Hi Sylvia Dukes. Yes awaiting a stabilizing impact on these rather volatile market. Staying optimistic.
And Grant Schneider I have to admit some days I do let them spook me too. Lol. Stay safe in this 2016 Blizzard!