Houtan HormozianExpert on Real Estate, Finance and PropTech

CRESTICO - Quick Market Insights - 02-04-2025

5 Feb 2025 · 1 min

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In this brief market update, the presenter reports that the Federal Reserve kept interest rates unchanged in January, indicating a wait‑and‑see approach pending new data. Consumer confidence fell, yet the economy showed resilience with a 2.5% annualized GDP growth in the fourth quarter. New home sales surged 6.7% in December, pushing annual sales 2.5% above 2023 levels—the strongest performance since 2021. Conversely, pending home sales slipped 5.5% as higher rates dampened buyer interest, and mortgage demand weakened, with purchase applications down 0.4% (a 4% weekly decline and a 7% year‑over‑year drop). The video ends with a thank‑you to viewers.

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A quick market insights. Fed held rates steady in January, signaling no changes unless new data emerges. Consumer confidence dropped, but the economy remains stable with 2.5% GDP growth in 4th quarter. New home sales rose 6.7% in December, with annual sales 2.5% above 2023's total, the highest since 2021. However, pending home sales dropped 5.5% due to higher rates, and mortgage demand weakened, with purchase applications down 0.4%. 4% weekly, and 7% year over year. Thank you for watching.