Exciting Economic Update & Opportunities in Real Estate!

Dear Friends & Fellow Associates,

I hope you are doing well. As we wrap up another week, I wanted to share some exciting economic updates with you and discuss some promising opportunities in the real estate market.

Economic Update:

This past week, we brought some notable shifts in the economic landscape. Stock markets saw an increase and a drop in mortgage rates, indicating a potential economic slowdown. We may be witnessing a turning point after nearly two years of tightening measures. With the Fed halting the sale of treasury bonds, long-term rates have decreased, offering favorable conditions for potential homebuyers.

Additionally, recent reports show a decrease in consumer confidence, which often correlates with reduced spending and, consequently, a moderation in inflation. Analysts anticipate forthcoming data to reflect this trend, further bolstering market optimism.

Real Estate Opportunities:

Amidst these economic developments, the real estate market remains dynamic. With April's sales figures soon to be released by esteemed associations such as the California Association of Realtors and the National Association of Realtors, it's an opportune time to explore the possibilities in homeownership or property sales.

According to the latest data from Freddie Mac, mortgage rates have experienced a slight decrease, offering potential opportunities for both homebuyers and sellers. As of May 9, 2024, the 30-year fixed mortgage rate was 7.09%, down from 7.22% the previous week, while the 15-year fixed rate stood at 6.38%, down from 6.47%.

With mortgage rates showing signs of stabilization, now could be an advantageous time to explore your housing market options. Whether you're considering purchasing your dream home or selling your current property, favorable mortgage rates can enhance your prospects and save you money in the long run.

Engel & Volkers Global Real Estate is dedicated to providing our clients with unparalleled service and expertise. Whether you're considering buying your dream home or selling your property, we are here to guide you every step of the way.

Referral Request:

We understand the importance of trusted recommendations in the real estate industry. If you know someone looking to buy or sell a home, we would be immensely grateful if you could refer them to us. Your endorsement means the world to us and helps us continue to serve our community with excellence.

Connect with Us:

Visit my website, tinalucarelli.evrealestate.com, to access your area's latest real estate data. Feel free to contact me with any questions or to schedule a consultation. We're here to help you navigate the exciting world of real estate with confidence and ease.

Thank you for your attention, and I wish you a fantastic week ahead!

Warm regards,

Tina Lucarelli - Global Real Estate Advisor

DRE 02102353