American Family Funding - Sales Market Report

American Family Funding – Weekly Sales Market Report – December 4, 2020

December 7, 2020 abryant

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	Stocks continue to rally to new highs as investors become more optimistic that multiple COVID-19 vaccines will help speed up an economic recovery as we head into 2021.
	An emergency stimulus package by the end of the year is now a possibility. Politicians have returned to the negotiating table as COVID-19 counts rise and the economy falters.
	Jobless claims dropped to a pandemic-era low of 712,000 last week. Continuing claims also fell, dropping to 5.52 million.


	Mortgage demand was up as new purchase applications jumped 9% last week and were 28% higher annually. Refinance applications fell 5% but were still 102% higher than a year ago.
	Pending home sales unexpectedly fell by 1.1% in October but were still 20.2% higher than in October 2019. Low inventory likely caused the decline.
	New home sales were up 41% year over year in October sales. The median price of a new home was $330,600, up from $322,400, as prices increased for land, labor and material.

“Look closely at the present you are constructing. It should look like the future you are dreaming.”
Alice Walker

Next week’s potential market moving reports are:

Monday, December 7th – Consumer Credit
Tuesday, December 8th – Productivity and Labor Costs
Wednesday, December 9th – Job Openings
Thursday, December 10th – First Time Jobless Claims, Consumer Price Index
Friday, December 11th – Producer Price Index, Consumer Sentiment

Santa Clarita mortgages lender American Family Funding can help you fulfill your dream of home ownership. A highly rated Santa Clarita mortgages lender, American Family Funding maintains a focus on community involvement and a commitment to giving back whenever possible. A friendly mortgage advisor will make the first time homebuyer experience an easy and stress-free experience — even with bad credit or a low down payment. The Santa Clarita home loan officers at American Family Funding also specialize in VA loans, reverse mortgages, refinancing and the STAR Loan Program.