Maltese Group- Supreme Lending-Summerlin Office
And to round out my self-promotion for the month, here is a radio interview I did this past week!
The Dow Jones is still struggling to reach its prior peak of nearly 27,500 it hit in July, closing today at 26,797. It is up roughly 3.5% for the year. The primary suppressor is the ongoing trade war between China and the U.S.
Bond Market-Mortgage Rates
While the trade turmoil wreaked havoc in the stock market, that coupled with the Fed hinting at further rate cuts created a bond market rally, driving mortgage rates to the lowest levels in 3 years. My guess is, if a trade deal gets worked out we could see rates climb back into the mid 4’s. I have the Raiders over under win total at 8 this year too if anyone cares.
Las Vegas Real Estate Market
I know the sales pace of homes for Clark County has been a little disappointing for those in the industry but the market slow down is exactly what the doctor ordered in my opinion. The latest sales report has median sales price of single family homes settling at $305,000 up just 3.4% from the same month last year. Equally healthy for the market is the number of homes without offers on the market, up over 33% from this time last year according to GLVAR.