Not much new this week other than the usual news articles trying to relate to all of us which way the economy, housing and interest rates are going --or going to be going. Case-Shiller noted that prices in a majority of its 20 reporting areas are dropping again. Sounds bad, BUT the San Francisco area is one of the minority of cities in the report that showed an increase! Good news for us here in Marin! The key in housing is always going to include the job situation. While this recession "recovery" is still lagging in jobs, Marin County has a jobless rate far below that of the country at large or California. Nationally, the rate hovers above 9% and California's is a worse 12% and change. Ouch! But, here in Marin, the rate is at 8.2%--not something to brag about, but still evidence that, at least to this point, things here are starting to look better.
We are starting to here from corporations regarding their needs for relocation assistance for transferring employees as well. Again, a signal that things are looking up somewhat.
Rates: While climbing a little this week, they are still under 5% for conforming 30 year fixed rate mortgages: 4.82%. Up from a week ago, but still an excellent reason to be house hunting!