Revathi Raja Kumar's Blog

California Weekly Market Data - July 2025

Housing Market & Economic Snapshot: July 2025 The housing market is a mixed bag: mortgage applications are up  due to easing interest...

California Weekly Market Data for week ending July 8, 2024

Housing Market Outlook:

The housing market's short-term outlook improved in June due to moderating interest rates and better supply conditions. The job market is cooling, and consumer optimism is waning, potentially slowing the economy in the next two quarters. This could benefit the housing market if the Federal Reserve reduces policy rates.

Homebuying and Selling Optimism:

Fannie Mae's Home Purchase Sentiment rebounded in June, with 19% saying it’s a good time to buy, up from 14% in May. Job ...

California Weekly Market Data for week ending June 24, 2024

More listings available on the market

Active listings at the state level rose on a year-over year basis for the fourth straight month and the increase was the largest in 15 months.

Housing starts fall sharply as mortgage rates remain volatile

In May, the U.S. Census Bureau reported that housing starts were at an annual rate of 1.28 million units, down 5.5% from April and 19.3% lower than in May 2023.

Builder confidence hit its lowest level since late 2023

Many homebuilders were put on pause as...

California Weekly Market Data for week ending June 17, 2024

Federal Reserve takes its time and holds rates steady

Federal Reserve Chair Jerome Powell stated that the central bank's restrictive monetary policy is reducing inflation, but they are not ready to cut interest rates yet.

Inflation eases more than expected in May

Inflation was lower than expected in May, with consumer prices remaining flat compared to the previous month and increasing by 3.3% over the past year.

Homebuyer sentiment dips as rates rise

Despite the recent decline in optimism, sen...

California Weekly Market Data ending June 10, 2024

Big jobs number spooks bond traders, but hides some underlying cracks

The household survey, which places more emphasis on small businesses compared to the employer survey, indicated a rise in job losses. This suggests that the labor market may not be as robust as the headline figures suggest.

Rates surge as economy refuses to cool

Although C.A.R. has not ruled out a rate cut for 2024, the decline in mortgage rates is expected to be modest due to the long-term projection of a 2.5%-3% Fed Funds R...

California Weekly Market Data ending June 3, 2024

Consumer confidence rises for the first time in four months

Higher inflation expectations and a greater chance of a recession in the next year continued to lower consumer optimism. Although May's confidence level was better than expected, it was still the second lowest in the last 18 months.

Latest inflation data signals a cooling trend

The average 30-year fixed mortgage rates dropped 12bps and moderated from the recent peak reached in the middle of the week after the news.  

Mortgage rates ac...

California Weekly Market Data for week ending May 27, 2024

California’s population grows in 2023 after three years of decline

As the remote working trend continues to stabilize and net domestic migration recedes to the lowest levels of the 2010s, California population is expected to increase further at a slow pace in the near future.     

Prospective homebuyers plan to buy but lack confidence to start the journey

Renters are unsure whether now is the right time to buy but many plan to buy in the next five years, according to the newest Bank of America ...

California Weekly Market Data ending May 20, 2024

April Consumer Price Index offers hope for Fed rate cut

The latest inflation report on consumer prices suggests that overall price growth eased slightly in April, with core inflation dropping to the lowest level in three years.

Softer than expected retail sales suggest spending fatigue

The recent drop in retail sales may mean that inflation and high interest rates are reducing consumer spending. However, we need more data over the next few months to see if this trend continues.

Home sales boun...

California Weekly Market Data for week ending May 13, 2024

Employment data telling two different stories

Ongoing unemployment claims in California are rising steadily, indicating prolonged job searches for workers. This trend, if it persists, might help alleviate inflationary pressure.

Mortgage rates continue to inch down

With credit card debt increasing and signs of a softening labor market, 8% should stay the peak, and rates might even gradually decrease by the second half of the year.

California housing market remains hot despite 7% rates

Fortunate...

California Weekly Market Data ending May 6, 2024

Federal Reserve leaves rate unchanged as inflation progress stalls

The Fed is hoping to keep normalizing the size of its balance sheet without creating money market stresses and putting too much upward pressure on interest rates. 

Latest jobs report shows hiring slowdown

The employment situation in April came in softer than expected and started the second quarter with signs that the labor market could finally be cooling.

Consumer confidence deteriorates for the third straight month

The rising ...