Agent

Buy less house than you can afford

Don't base decision on low interest rates alone

The real estate event of the summer
Connect with other top producing agents at Connect SF, Aug 7-11, 2017

Unsettling economic news at the beginning of July caused some economists to fear a double-dip recession. The stock market sold off, pushing the Dow below 10,000. A weak employment report increased fears of a tepid jobs recovery. Manufacturing activity fell to its lowest level since December.The National Association of Realtors' Pending Home Sales Index (PHSI) dropped a record 30 percent in May -- almost 16 percent below its 2009 level. NAR's PHSI is an indicator of future home sales activity. The index is based on executed purchase contracts that have not yet closed. A drop in the May index was not unexpected. The federal homebuyer tax credits that were generally recognized as stimulating a struggling home-sale market expired on April 30. The large drop in pending sales indicates a drop-off in buyer demand. It's impossible to know whether this will develop into a trend as buyers pull back in the face of worrisome economic news or until prices fall to a level they can't pas...