New year, new goals.  We are getting 2025 started off right with a fresh new listing on Thursday.  I hope you are off to a great start as well!

Let's get into it.  Mortgages being sticky around 7% finally caught up to new home purchase applications.  The purchase applications took a 12% nose dive to end the year.  We are now two weeks in a row with a negative print after posting five weeks straight of positive growth.  It's important to keep in mind this data point is tracking NEW purchase applications.  In other words, the buyers that were submitting applications over the last few months are still there, and more than likely are pre-approved, ready to rock-n-roll.  I will definitely be keeping an eye on activity this weekend at the open house for my new listing.  The foot traffic will be a good tell for me.

Our first economic data points came out on Tuesday morning.  The JOLTS report.  This report reflects the monthly and annual estimates of job openings.  This data point came in higher than expected sending the 10yr yield higher...not ideal.  There are more labor data points coming out this week with jobless claims on Thursday and the big boy, Non-Farm Payrolls on Friday.  This can either send mortgage rates higher to start the year, or give us a nice correction.  Let's see!


What are you seeing or hearing? I'd love to know paul@guiderealestate.com
Visit www.paulpelettarealtor.com

Don't miss out on this exciting opportunity to own this 2 bedroom, 1.5 bathroom in the Parkway East neighborhood.  This home is a light fixer with good bones, a first time home buyer's blank canvas that is functional as-is. This home could also be a solid rental for the savvy investor.  The generous lot size provides a unique opportunity to add-on to the existing home, build an additional unit, or a pool.  Located in the Elk Grove Unified School District, this home is walking distance to multiple elementary schools, as well as minutes away from Hwy 99 for an easy commute, public transportation, light rail stations, Consumnes River Community College, the Delta Shores shopping center, restaurants, and more.  This makes it an appealing investment to those looking for a rental property or those looking for their starter home.  This house is just waiting for your own personal touches and creativity inside. Any buyer would be excited to call this property their own.

  Listed at $330,000 by Paul Peletta - GUIDE Real Estate
5460 Tangerine Ave, Sacramento, CA 95823

Know someone who may be interested? Let me know at paul@guiderealestate.com

*These rates are courtesy of Dara Delgado - Home Loans*