What’s on this week’s financial calendar?
The following announcements, events, and reports may help shape the financial or mortgage markets this week:
Monday, April 15th
Dallas Fed President Lorie Logan speak in Tokyo
Empire State manufacturing survey – April 2024
U.S. retails sales – March 2024
Retail sales minus autos – March 2024
New York Fed President John Williams TV appearance
Business inventories – February 2024
Home builder confidence index – April 2024
San Francisco Fed President Mary Daly speaks
Tuesday, April 16th
Housing starts – March 2024
Building permits – March 2024
Fed Vice Chair Philip Jefferson speaks
Industrial production – March 2024
Capacity utilization – March 2024
Fed Chair Jerome Powell speaks
Wednesday, April 17th
Fed Beige Book
Cleveland Fed President Loretta Mester speaks
Fed Governor Michelle Bowman speaks
Thursday, April 18th
Initial jobless claims – Week of April 13th
Philadelphia Fed manufacturing survey – April 2024
Fed Governor Michelle Bowman speaks
New York Fed President John Williams speaks
Existing home sales – March 2024
U.S. leading economic indicators – March 2024
Atlanta Fed President Raphael Bostic speaks
Friday, April 19th
Chicago Fed President Austan Goolsbee speaks
Does it make sense for retirees to downsize?
A recent article in Cleveland.com detailed the scenarios in which retirees may want to downsize and what it could look like. Juan Hernandez-Ariano, a certified financial planner in Houston said, “Goals are so crucial. There are multiple pathways people can take.”
Common scenarios in which retirees may need to downsize can include getting into a cash flow bind, living in a costly area, needing to move due to health concerns, or wanting to be closer to family.
Home prices vary by housing market and the condition of the home, but we’re still technically in a sellers’ market. If you need to downsize, there may be an opportunity depending on your situation and needs.
Where are home listings at now?
According to recent data, home listings are currently at a three-year high. Jiaya Xu, an economist at Realtor.com, stated, “This spring, many sellers are actively listing their homes, with the number of newly listed homes up by 30.1% from a year ago.”
We’ve seen active home listings increase for 22 consecutive weeks when compared to the same week from the previous year. Xu stated, “Buyers will find a broader selection of options available compared to last year. However, even with recent improvements, the number of new homes for sale remains historically small.”
While the increase in active listings is welcome site, metrics for the week of April 6th were down 37.9% compared to typical levels in 2017 to 2019. We’ve seen improvement in listings, but we still have a long way to go.
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