Good Friday AM, from your Hometown Lender,
The last shoe of this week’s economic data dropped today.
It’s more of a boot than a shoe as it’s the biggest data set of the month. The Jobs report came in weak. Markets were expecting 240k new jobs, we got 175k. Unemployment rate expected at 3.8%, ticked up to 3.9%. hourly earnings expected at .3%, in at .2%. Across the board, much weaker than expected. Bonds and stocks both took off on the news. Stocks have held their gains; bonds have given a little back but are still up nicely. Mortgage bonds have improved 100bps this week that’s about .25% better in rate than where we started. The 10yr is flirting with 4.5% again. While this is not a direct path to a rate cut as it’s only one report, it has calmed markets and set us on a different course now.
This was a great info graph. May sellers have a13.1% premium above market value.
List now… Let’s go!!!
Based on an analysis of internal data from ATTOM—which covers 59 million home and condo sales beginning in 2011—data shows that the highest premiums sellers can realistically ask for, and get from buyers, come during the months of May, February, and April, respectively.
The data also suggests that from early in the year through summer is not only the busiest season for home buying but also the best time for sellers to list their properties. Therefore, it might be the ideal moment to place your home on the market.
The analysis also took a more high-level look and showcased how seller premiums faired throughout the year and broke it out by month.
The months realizing the greatest seller premiums were as follows: May (13.1%); February (12.8%); April (12.5%); June (12.4%); March (12.2%); January (10.6%); August (10.3%); December (10.0%); July (10.0%); November (9.5%); September (9.5%), and October (8.8%).
Best days to sell
ATTOM also took a deeper dive to uncover the best days to sell a home. The top 20 days fell in the months of May, February, March, and June. Starting with May 27 being the best day to sell a home, with a seller premium of 16.2%. Followed by February 25 (15.9%); February 17 (15.8%); February 15 (15.7%); February 22 (15.5%); May 25th (15.4%); March 30 (15.2%); March 25 (15.1%); February 28 (15.0%); and February 24th (15.0%).
Stay safe, enjoy the weekend and first, make today great!!!
