My new physical and mental push!

If you’ve been a reader for awhile, you’ve read about my experience with taking Zumba classes. I love the workout, the music, the dance and the instructor-all was wonderful.

But, I recently heard about a new class called “Pound”- it combines drum sticks (learning to play the drums is on my bucket list) and a full body workout. After watching a sample video of the class, I was hooked. And, even more exciting, I found a Pound class here in Santa Clarita Valley!

I gotta say, it’s a blast. I could barely walk out of the first class, but what a rush! Working out needs to be fun for me to stay consistent, and this class is the epitome of fun! Not to mention the faces my sister and I make at each other in the midst of the physical and mental push.

If you live in SCV and want details, let me know!

Onto the market update…

Through Thursday the stock market seemed to have been enjoying a great rally. With fears of the U.K. leaving the European Union easing, markets around the world stabilized and have even been rallying. However, as of this morning, everything changed. The experts were wrong – the U.K. is going to leave the European Union.

As of early this morning stock markets around the world are tanking. Money is flying out of stocks and into bonds. The Yield on the 10 year bond is down to 1.46% as of early morning trading. Bottom line…buckle up and stay tuned as the markets are in for a crazy ride while investors and governments around the world sort through the what the impact of the vote to exit will ultimately be.

The housing market continues to show strength, although the numbers are not earth shattering. Existing home sales rose 1.8 percent in May, which is the strongest pace of growth since February 2007. The increase is only modest from prior months, but it continues to point to an improving housing market. Compared to the same time last year, existing homes sales are up by a narrow 4.5 percent.

Home prices are up, but only modestly at 4.7 percent for the year. Lack of inventory continues to be the culprit for slow growth in the housing sector. Supply of homes is very low at only 4.7 months. The South is up 6.5 percent from the same time last year at a rate of 2.280 million. The Northeast, which is the smallest region, is up 11.6 percent for a 770,000 annualized rate. The West, usually a strong region, appears to be lagging behind the country being down 1.7 percent from a year ago.

New homes sales data is always volatile due to the small sampling used to acquire report data. Despite the volatility, it appears that new home sales are continuing to trend higher. Although new home sales fell a larger than expected 6.0 percent in May, the number is misleading. The annualized sales rate of 551,000. is the second best of the housing recovery cycle.

The Federal Housing Finance Agency’s report on home prices was weaker than anticipated, but still shows home price appreciation. Prices according to the FHFA reflect an increase much smaller than expected- 0.2 percent for the month of April. Prices compared to the same time last year are up by 5.9 percent.

Next week’s potential market moving reports are:

Monday June 27th – International Trade in Goods

  • Tuesday June 28th – GDP & Case-Shiller Home Price Index
  • Wednesday June 29th – MBA Mortgage Applications and Pending Home Sales
  • Thursday June 30th – First Time Jobless Claims and New Home Sales
  • Friday July 1st – ISM Manufacturing Index & Construction Spending

 

As your mortgage and real estate professional, I am happy to assist you with any information you may need regarding mortgage or real estate trends. I welcome the opportunity to serve you in any way I possibly can. Please feel free to reach me at 661-618-1789.