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Weekly Market Update

1/30/2024

A Promising Start: California Real Estate in Review - Week of January 22, 2024

Greetings, fellow homeowners and aspiring buyers! 🏡✨ It's Cheri Jacques, Your Southern California REALTOR, bringing you the latest insights into the dynamic world of California real estate. Let's dive into the key highlights from the week of January 22, 2024.

1. Inflation Trends Downward

Exciting news for our market! Inflation is steadily moving lower, inching closer to the Federal Reserve's 2% target. A more stable economic landscape often translates to a favorable environment for those considering homeownership.

2. New Home Sales End 2023 on a High Note

The year concluded on a strong note with a surge in new home sales. This positive momentum suggests a vibrant real estate market, attracting potential buyers eager to secure their dream homes.

3. Pending Home Sales Soar in December

December witnessed a significant surge in pending home sales, signaling a robust demand for homes. This uptick can result in a more dynamic and competitive market, offering opportunities for both buyers and sellers.

4. Fourth Quarter GDP Exceeds Expectations

California's real estate market benefits from a better-than-expected fourth-quarter Gross Domestic Product (GDP). A thriving economy often correlates with increased home purchases, contributing to the overall health of the housing sector.

5. Jobless Claims: A Point of Caution

While the overall picture is positive, it's essential to address the uptick in jobless claims. Understanding the reasons behind this increase is crucial, as it may impact the real estate market in the long run. Monitoring this trend will provide valuable insights into potential challenges and opportunities.

In conclusion, the California real estate market is off to a promising start in 2024. These key indicators point towards a vibrant and resilient market, offering exciting prospects for both buyers and sellers.

For personalized advice or to explore the current market further, feel free to reach out. Together, let's make your real estate journey a success!

Cheri Jacques

www.RealtorCheri.com

Capitis Real Estate

DRE: 02164097