The Middle Heats Up

February 2016 figures showed particular strength in the single family home sector. Specifically, the middle one-third of the market ($1.1MM - $1.6MM) experienced nearly double the level of appreciation, as compared to the top- and bottom-third of the market. The middle also saw the lowest Days on Market (13 days), and the highest sale-to-list price ratio (117%).

The national economy continues to show signs of strength, with recent reports showing better-than-expected gains in private sector employment. Furthermore, recent gains in oil prices helped global equity shares hit a two-month high. European and Asian equities rose on anticipation of further monetary easing in Europe, and stimulus measures in China. San Francisco Fed President John Williams stated that the U.S. economy is weathering difficulties in international markets, and that there is no tangible risk of a recession. In light of recent positive reports on the economy, it is expected that the Fed will resume their course of rate hikes this year.