The Weekly Economy and Housing Report

    We’re pleased to bring you a weekly report on the mortgage and housing industry, as well as the economy. Weekly we will publish the following report from CoreLogic as a courtesy to you. For more detailed statistics about Utah real estate markets, look for our real estate market updates weekly!

    Rate Environment

    The Economy

    Producer prices fell for a 2nd straight month in January, leading to the smallest annual increase in 1-1.5 years. Low or absent inflationary pressure is good for interest rates.

    Retail sales recorded their biggest drop in 9+ years in December as receipts fell across the board, suggesting a slowdown in economic activity at the end of 2018.

    Jobless claims rose last week, pushing the 4-week moving average of claims to its highest level in just over a year & suggesting some moderation in job growth.

    Housing News

    Most markets across the country are still seeing home prices inch up, although at a slower pace than in previous quarters. The national median price is $257,600.

    The home theater is moving out of the basement and into the main living area. Home theaters are being replaced by comfy, cozy multifunctional media rooms.

    A new report show that only 13% of offers written by agents for their clients faced a bidding war last month-down significantly from 53% a year ago.

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    Melody Moser

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