I hope everyone had a wonderful and safe Fourth of July holiday and weekend. It was scorching here in Sacramento. Do you know what isn't scorching? The labor market and inflation. The end of last week gave us June's labor numbers, and also revisions to May's numbers. The revisions were pretty significant, and the combined reports brought unemployment up to 4.1%, we haven't been over 4% in some time. This is a sign of a cooling labor market, which The Fed is watching very closely in order to determine their first rate cut. The 10yr bond yields we like to track acted favorably, continuing to hang in a downtrend. The question remains, will The Fed act proactively, or reactively? I continue to hope for the latter. The CPI report comes out on Thursday, so we'll see what that brings to the equation. The listing highlight of the month is a home for sale in Santa Cruz, CA. I personally love Santa Cruz, my whole family does, but a 3/1 over a millie isn't in my price range. If you know of someone looking along the coast, please let me know. I mentioned some of my activity last week. I'll be adding another to that list shortly. It will be another state transfer, both clients moving to CA. One client is moving from Nevada, the other from Texas. Family is playing a huge role in those decisions. If you know someone looking to move out or move in, I am here to advise, help, refer in any way I possibly can. Feel free to give my information to anyone whether it's 1 month or 12 months away. What are you seeing or hearing? I'd love to know paul@guiderealestate.comVisit www.paulpelettarealtor.com |
