What’s on the financial calendar for the week of 5/20 – 5/24?

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What’s on this week’s financial calendar?

The following announcements, events, and reports are scheduled for this week, and may have an impact on the financial sector or mortgage market:

Monday, May 20th

Fed Vice Chair for Supervision Michael Barr speaks
Fed Governor Christopher Waller gives remarks
Fed Vice Chair Philip Jefferson speaks

Tuesday, May 21st

Fed Governor Christopher Waller speaks
New York Fed President John Williams gives remarks
Fed Vice Chair for Supervision Michael Barr speaks
Cleveland Fed President Loretta Mester, Atlanta Fed President Raphael Bostic, and Boston Fed President Susan Collins speak together on a panel

Wednesday May 22nd

Existing home sales – April 2024
Minutes of Fed’s May FOMC meeting

Thursday, May 23rd

Initial jobless claims – Week of May 18th
S&P flash U.S. services PMI – May 2024
S&P flash U.S. manufacturing PMI – May 2024
New home sales – April 2024
Atlanta Fed President Raphael Bostic speaks

Friday, May 24th

Durable goods orders – April 2024
Durable goods minus transportation – April 2024
Fed Governor Christopher Waller speaks
Consumer sentiment (final) – May 2024

Are there already buyers’ markets in Texas?

A recent article from Business Insider detailed two popular Texas markets that are seeing listing prices drop and buyers actually getting offers below ask accepted.

Which markets are they? Austin and San Antonio. The Austin metro area has seen home prices drop 0.3% since last year. San Antonio has seen a drop of 4.6% since May 2023.

Austin real estate agent Nicole Marburger stated, “Most homes are no longer selling within a matter of hours or days. Some might sell in two to three weeks, while for others, it could take two to three months — it just depends what area a home is listed.”

Marburger also went on to detail how a client of hers purchased a home that was originally listed for over $1 million but sold for $850,000 that even came with a concession.

Marburger also said, “Sellers who are holding out for peak market prices may unfortunately find that, unless their property truly stands out, today’s reality does not align with their aspirations.”

Has the top market for job hunters changed?

With a new group of college graduates hitting the job market for the first time, Realtor.com took a look at the top cities in the U.S. for job seekers. They looked at the top 180 metro areas for job growth, employment levels, starting salaries, the availability of entry-level jobs, and other factors.

The top metro area for jobseekers to look into? Atlanta, GA claimed the top spot because it’s got a ton of job opportunities, high worker satisfaction, and a increasing incomes. However, it’s median home price is at $415,000, so it may be tough for recent grads to buy into.

Pittsburgh made the top 10 and had the most affordable median home price. The median home price in Pittsburgh was only $270,000, and it also has a fantastic job market for tech workers, healthcare workers and even manufacturing.

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