The below Economic Update was just released by COMPASS’ Chief Market Analyst, Patrick Carlisle.

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“Both financial and bond markets were hoping for more significant declines. As of late morning (ET) on Tuesday, stock markets were down a little over 1%, and the 10-year Treasury bill yield rate was up. According to the WSJ, the new reading implies that while the Fed had been expected to begin cutting its benchmark rate earlier, now "a June start date is more likely." Of course, guessing what the Fed will do is a very iffy game, to which analysts and economists are addicted.

Interest rates, 30-year conforming and jumbo. The next weekly average for the conforming 30-year rate will come out Thursday.

Stock markets continued their staggering rebound through yesterday. The S&P passed 5000 for the first time, but fell back slightly below this morning; the Nasdaq remains within a whisker of its all-time high in 2021.

U.S. median house sales prices by year since 1980: The country as a whole hit a slight, new high in 2023, though most Bay Area markets remain somewhat down from 2022 - Sonoma and Monterey are the exceptions with year-over-year gains.”

The Lamorinda market hasn't reached 2022 price levels, but the current market is experiencing stability.

Click here for more of Lamorinda’s February market reports from Patrick Carlisle. Our team loves hyper-local data from Patrick and the data we collect in real-time in the field. We are busy writing offers for our buyers and listing houses for our sellers every week. As a result, we have great insight into what the Spring real estate market will look like. Contact us today if you want to better understand the 2024 real estate market!