Last week saw some great news for Encinitas real estate, including a drop in unemployment and foreclosure rate. While this news was not limited to Encinitas real estate, we will review how this information relates to homes for sale in Encinitas and benefits for you.
Jobless claims for the week fell to 339,000, which was down to the lowest levels seen in four years with September seeing an unemployment rate of 7.8%. Increased employment always bodes well for the economy and the real estate market as well for the obvious reason that people with jobs can afford to put money back into the economy and even potentially purchase an Encinitas home.
Foreclosure rates were also down to a five-year low in September. Compared to last year at the same time and the month of August foreclosure rates saw a drop of 16% and 7% respectively. Also up to its highest level in five years was the Consumer Confidence Index, which reached 83.1, an increase of almost five points.
While it is common for good economic news to be an indicator of when investors will shift their money into riskier investments like stocks instead of mortgage bonds, the Fed is in the midst of their third-round Quantitative Easing purchasing more mortgage bonds to keep interest rates low.
This is more good news in a chain of positive news relating to the economy and real estate market, indicating that now is an excellent time to purchase a home in Encinitas. Call me, Encinitas Realtor Linda Moore, to start taking a look at homes for sale in Encinitas, and keep checking back here for more information on the real estate market and economic data.