See How the Median Prices Have Changed Over the Years in The Village Redondo BeachThe one bedroom Village oceanview condos in Redondo Beach are a great indicator of the South Redondo real estate market over time as the units are all the same size and configuration. The ocean views make a big difference as well as the floor it's on, but in general the units are pretty similar. Therefore the changes in values year over year make for a good indication as to what the market has done and where it's headed.  As you can see from the charts below prices held relatively steady and really jumped in 2021 and early 2022.Median one bedroom condo prices in The Village Redondo Beach: 2022 - $760,000 2021 - $692,500 2020 - $615,000 2019 - $623,000 2018 - $640,000 2017 - $615,000 2016 - $552,500 View th... 09/25/2022

The one bedroom one bath oceanview condos of The Village in south Redondo Beach serve as a great indicator of the overall Redondo real estate market  as, unlike most beach property, the units are all the exact same size and configuration.The difference in ocean views has a considerable impact as well as the floor it's on, but in general the units are all comparable.The changes in year over year make for a good indication as to what the market has done and where it's headed.  As you can see from the charts below prices held relatively steady for years, but increased considerably in 2021 and early 2022.Median 1 bedroom condo prices in The Village Redondo Beach: 2022 - $760,000 2021 - $692,500 2020 - $615,000 2019 - $623,000 2018 - $640,000 2017 - $615,000 2016 - $552,500 View the current ... 09/14/2022

Redondo Beach 2nd Qtr Market ReportRedondo Beach real estate market remained strong in the second quarter. Although there were fewer home sales, prices went up by 22 percent on average.We did see some signs of the slowdown due to higher mortgage rates and the lower affordability. Price gains are projected to slow down in the next few months. See below for price and sales data: Redondo Beach 2nd Qtr '22 2nd Qtr '21 Difference No of Sales 79 121 -47% Median Sold Price $1,810,000 $1,395,000 +30% Average Sold Price $2,043,798 $1,676,586 +22% Days on market 12 15 - 3 days Single family homes only based on CRMLS dataContact Krystyna Ryan at (310)918-5027 for your home evaluation and local market report.  Click below for the comprehensive Redondo Beach real estate resources, including all curr... 08/03/2022

http://MikesDailyMarketReport.com:  NAHB Housing Market Index dramatically dropped from 67 in June to 55 in July.  This index gauges the confidence level for Home Builders, which is extremely low in July, as this will most likely lead to a dramatic drop in Permits and New Home Sales, as Home Builders lose confidence.  However, Investors are happy with the Q2 Corporate Earnings, so Stocks are Up again today.  This week will mostly show Housing data and the most impactful will the ECB meeting on Thursday when they're expected to hike rates for the first time in 11 years.  MBS started the morning way down (down about 30+ bps), but have pulled back after testing the 25 DMA floor; and is now currently Down 9bps.  Mortgage Rates were worse, but if this improvement trend continues, then we may... 07/18/2022

http://MikesDailyMarketReport.com:  Retail Sales grew by 1.0% in June.  A report that we don't normally pay much attention is the Import Prices, which showed an increase of 0.2%.  I'm looking at it now because the Fed will be convening for their 2 day event in about 1.5 weeks and could show inflation data.  This was very tame, so it's good news.  To move on, we got more good news with manufacturing in the NY region, as the Empire State Index rose to 11.1 in July (after a few months contracting).  But Industrial Production (of course, this is for June; as the previous is more current, but just a micro view) contracted by 0.2% in June.  The Consumer Sentiment slightly improved in July, as it rose from 50.0 to 51.1.  These are the lowest positioning in about 40 years.  This seems to be a r... 07/15/2022

http://MikesDailyMarketReport.com:  Initial Jobless Claims continue to increase each week, as this week's report has 244k new filings for benefits.  However, the Continuing Claims did shrink from last week.  The Producer Price Index (PPI), which measures inflation on the Wholesale side, reported a 1.1% increase in June.  However, the Core PPI (excludes food & energy) rose only 0.4% and it's YoY dropped from 8.5% in May to 8.2% in June.  Both Markets are down today!  The concern that the Fed may increase it's rate hike from 75 bps to 100 bps increased to 75% chance and is having a negative reaction with the Markets.  There were a few Fed Members speaking today, but none of them dismissed the sentiment; and indicated that they will review data between now and then before making any final ... 07/14/2022

http://MikesDailyMarketReport.com:  The CPI report came out a bit hotter for June than expected.  The CPI (headline number) went up 1.3% (higher than the 1.1% forecasts); and it's YoY jumped from 8.6% in May to 9.1% in June.  However, the Core CPI (excluding food & energy) rose 0.7%; but it's YoY dropped from 6.0% in May to 5.9% in June.  This was considered the BIG impactful report for this week, as it sent both Markets last month into a tailspin.  Stocks are still in Negative Territory; however, MBS and Treasuries have rebounded from it's initial reaction.  MBS was below it's 25 DMA and down 58bps, only to rebound to currently Up 2bps (and back above the 25 DMA).  This has led Lenders to reprice for the better; however, the better pricing brings us to Unchanged pricing from yesterday'... 07/13/2022

http://MikesDailyMarketReport.com:  The NFIB Small Business Index continued it descent to 89.5 for June.  This is lowest since the height of the Pandemic; and prior it was just after the Great Recession in 2013.  Inflation is the biggest concern for Small Businesses.  This index is important because Small Businesses make up the bulk of employment in the US; and if they don't have confidence, then there will be less jobs available.  The 10 year Treasury Auction was much weaker than expected, so the Bond Market quickly changed it's direction.  MBS was up around 20bps early on, but is now down to about 3bps.  It's currently sitting between it's 25 DMA and 50 DMA.  Mortgage Rates were better earlier on this morning, but many Lenders are repricing for the worse to Unchanged levels (from yest... 07/12/2022

http://MikesDailyMarketReport.com:  There are no economic data to report for today, but the most impactful data to be reported this week will be the CPI report on Wednesday.  The last report didn't bode well for the Markets; but the PCE came in a bit tamer (and is the Fed's favorite gauge for inflation) the other week, so it will be interesting to see if the CPI report will come in a bit tamer too.  Renewed concerns over global supply issues and inflation arose today, as China announces more lockdowns for areas with a pickup in COVID cases, as they aim for 0 tolerance.  They make up approximately 25% of global manufacturing, so this will most likely hurt global supplies and push inflation a bit further.  Stocks are down today, as investment dollars flow over into Bonds/Treasuries.  This... 07/11/2022

http://MikesDailyMarketReport.com:  The waiting is over for this week's big report, Non-Farm Payrolls (from the Bureau of Labor Statistics, or also referred as BLS).  The Non-Farm Payrolls came in much hotter than expected to 372k in June, as forecasts were calling for 268k.  Unemployment Rate remained Unchanged at 3.6%.  Average Earnings rose 0.3% while Average Workweek Hours remained Unchanged at 34.5 hours.  Lastly, the Wholesale Inventories rose 1.8% in May.  Both Stocks and Bonds are reacting negatively to the released data today.  Stocks are down because it means the Fed will most likely continue down the path aggressively to fight inflation, which in cause will slow the economy (possibly recession).  For Bonds, it's 2 fold.  Generally, good data is bad for bonds, as it's typicall... 07/08/2022

http://MikesDailyMarketReport.com:  The Initial Jobless Claims rose by 4k from last week's number to 235k.  Also, the Continued Claims picked up a bit; and the Challenger Layoff (announced upcoming layoffs) spiked by almost 12k from last report.  Tomorrow will be the Jobs data from the Bureau of Labor Statistics, which will carry a bit of weight this week.  Investors will be watching fairly closely tomorrow, as there is a lot of concern of a possible recession.  Today, they're feeling a bit more optimistic, as investment dollars move over to equities.  As a result, MBS is currently Down 11bps, but was down by approximately 19bps.  Pricing for Mortgage Rates will be a little worse compared to yesterday's.  The good news is that the 25 DMA seems to be holding as a floor for us, which can ... 07/07/2022

http://MikesDailyMarketReport.com:  The ISM Non-Manufacturing PMI dropped to 55.3, which was better than the forecast of 54.3.  Anything above 50 with this index indicates expansion.  The FOMC Minutes from it's June meeting were released today.  It basically reiterated what the Fed has been saying all along.  The 50 or 75 bps rate hike is on the table for it's July meeting.  Also, if inflation persists, then they may take more restrictive measures.  Both Stocks and Bonds were in negative territory prior to the release of the Minutes, but Stocks started to improve after the release, while Bonds sank further.  This was mostly to due liquidity issues with the Bond Market, as investment dollars flowed back into the Equities Market.  MBS is currently Down 61bps, so Mortgage Rates worsened to... 07/06/2022

http://MikesDailyMarketReport.com:  Factory Orders rose 1.6% in May; and it's April number was revised higher, from 0.3% to 0.7%.  This will be interesting to follow, as much of the manufacturing data have been contracting.  This week will feature Jobs data; however, one Jobs report will be placed on hold for a bit, as they retool it.  That will be the ADP Private Payrolls, which is typically the first of the Jobs data and released on Wednesday.  MBS is benefitting from a shift in investment dollars from the Equities Market, as Investors are concerned over recession fears.  The price of oil dropped below $100 and the US Dollar is stronger than the Euro.  So, MBS is currently Up 28bps and challenging it's 50 DMA now.  This improvement means there is improvement for Mortgage Rates, as the... 07/05/2022

http://MikesDailyMarketReport.com:  Construction Spending dropped 0.1% in May; however, it's April data was revised higher, from 0.2% to 0.8%.  The ISM Manufacturing PMI dropped from 56.1 in May to 53.0 in June; coming in under forecasts of 54.9.  Anything above 50 with this index indicates expansion.  So, many PMIs were released globally (Asia and Europe) today, which seems to be a global trend that these are slowing down (some even contracted).  This has Investors worried, as the Fed is on trajectory with a very hawkish policy path, which they feel will lead us into a recession (if we're not already in one, as some believe).  As a result, investment dollars are flowing back into Bonds/Treasuries for safe keeping (or "flight to safety").  MBS closed Up 42bps (off from earlier highs), w... 07/01/2022

http://MikesDailyMarketReport.com:  The Personal Consumption Expenditure (PCE) released it's inflation data today.  This index is the Fed's favorite gauge for inflation, so it holds a lot of weight (in terms of impact with Markets).  The PCE rose 0.6% in May, while it's YoY remained Unchanged at 6.3%.  The Core PCE (excluding food and energy; and the data that the Fed uses) rose 0.3% while it's YoY dropped 0.2% to 4.7% in May.  Personal Income rose 0.5% in May; and Consumer Spending rose only 0.2%.  Jobless Claims rose 2k last week to 231k while the Continued Claims rise, as well.  Lastly, the Chicago PMI, which measures manufacturing in Chicago region, dropped from 60.3 in May to 56.0 in June.  The Inflation data was good news for the Markets, as it may indicate it may have peaked.  We... 06/30/2022

http://MikesDailyMarketReport.com:  The Q1 GDP released it's final revision, which dropped another .1% from the previous revision; and the final is a drop of 1.6% for Q1.  MBS is Up today, which it was around 17bps in the beginning of the video, then it jumped up to 25bps.  If this continues, then we could see more price improvements; but overall, Mortgage Rates improved from yesterday.  Speaking of yesterday, it rebounded late in the day to closing up 3bps, after being in negative territory all day.  Improved inflation data out of Germany started a little rally with Euro Bonds, which trickled over to the US.  Sentiment is feeling optimistic ahead of the PCE release tomorrow; however, the CPI sorely disappointed about 2 weeks ago.  This report will have greater impact, as it's the Fed's... 06/29/2022

http://MikesDailyMarketReport.com:  The Case Shiller Home Price Index (HPI), which measures home prices in the 20 largest metros in US, rose 1.8% in April while it's YoY rose to 21.2% (after March lower revision from 21.2% to 21.1%).  The FHFA HPI, which follows conforming loans, rose 1.6% in April while it's YoY dipped to 18.8% (from 19.1%).  Lastly, the Consumer Confidence continues to drop, as it dipped all the way to 98.7 in June.  This is important because if Consumers aren't feeling good about the economy, then they will stop buying, which in turn helps the economy to continue to move along; but the high inflation (namely food and energy) are eating away at many peoples' ability to buy any of the extras in their life (and thus not feeling good about it).  Stocks started up earlier... 06/28/2022

http://MikesDailyMarketReport.com:  Durable Goods Orders rose 0.7% in May, exceeding expectations of 0.1%.  Pending Home Sales broke it streak of declines in May, as it rose by 0.7% to 99.9k annualized units.  There are a number of important data to watch this week, but none more important than Thursday's PCE release.  PCE is the Fed's favorite gauge for inflation, which carries a bit more weight than the CPI, which the Markets reacted quite negatively a few weeks ago with it's release.  Both Markets are Down today, as MBS started the morning down around 30bps, then it subsided, but when the poor auction results were released around 10am PST for the 5 year Treasury, then it dropped back down toward the lows of the day (about -30bps), as Mortgage Rates worsen by approximately .125% to th... 06/27/2022

http://MikesDailyMarketReport.com:  New Homes Sales beat expectations for May, as it jumped up 10.7% to 696k seasonally adjusted units.  However, Consumer Sentiment dipped down to 50.0 in June.  A few bits that we don't normally look at, but Fed Chair Powell made a comment about it, which raised it's importance this week.  The comment was regarding the Consumer Sentiment toward inflation, or outlook of inflation over a 1 year and 5 year period.  Both were recently lower in June, compared to May's outlook.  The 1 year went from 5.4% to 5.3%; and the 5 year went from 3.3% to 3.1%.  This helped to ease concerns for many investors, as Stocks improved yesterday and have continued this trend today.  As a result, money has flowed over to Equities from Bonds.  Yesterday, MBS was up 77bps, and c... 06/24/2022

http://MikesDailyMarketReport.com:  The weekly Initial Jobless Claims dipped to 229k last week, after last week's report was revised higher, from 229k to 231k.  Also, there was a slight increase to the Continuing Claims from last week.  The Markit PMI released their 2 reports (Manufacturing and Services) for the month of June, which anything above 50 is considered expansion.  The Markit Services PMI dropped from 53.4 in May to 51.6 in June; and the Markit Manufacturing PMI dropped from 57.0 in May to 52.4 in June.  Fed Chair Powell wraps up his 2 day testimony before the House Committee today.  Investors continue to be concerned that the hawkish Fed policy will force the economy into a recession.  There have been recent signs that the economy may not be as strong as the Fed has been sta... 06/23/2022