Good Morning Everyone and Happy Friday! Equity markets have struggled this week after a brief run up the week before. The Dow, if it closes at this current mark, will have lost 220 points for the week. The yield on the 10 year Note had rocketed from 2.87% to 3.20% in the week subsequent, but we have all but made up those losses this week. Pricing is fabulous and we should be telling everyone we know about how great these rates are!
This week we learned from Data Quick that home sales last month in Southern California shot up 11.6% from the month previous. This is surprisingly great news as June is typically one of the best months of the year for home sales. In fact, June was the highest month of home sales in 2010, being the recipient of the much sought after tax credit program which helped many first time buyers secure their first home.
This year's June home sales number is down 14% from last June's number for So Cal which includes Ventura, LA, Orange, San Bernardino, Riverside and San Diego counties. The good news in all of this it that we are only 14% off from last year's number when we had the tax credit. What's more, July 2010's number plunged 21% after that big June as the tax credit had expired. We have no reason to expect such a plunge this year.
Have a great Weekend!
This week we learned from Data Quick that home sales last month in Southern California shot up 11.6% from the month previous. This is surprisingly great news as June is typically one of the best months of the year for home sales. In fact, June was the highest month of home sales in 2010, being the recipient of the much sought after tax credit program which helped many first time buyers secure their first home.
This year's June home sales number is down 14% from last June's number for So Cal which includes Ventura, LA, Orange, San Bernardino, Riverside and San Diego counties. The good news in all of this it that we are only 14% off from last year's number when we had the tax credit. What's more, July 2010's number plunged 21% after that big June as the tax credit had expired. We have no reason to expect such a plunge this year.
Have a great Weekend!
