As we near the end of this challenging year, many areas continue to experience a real estate inventory shortage and interest rates remain at record lows.
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The Sacramento region continues to experience a tightening of the housing supply. For another consecutive month, buyer activity has outpaced seller activity throughout the area. There are two likely and positive sources for the continuous influx of buyers.
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Today the stock market improved significantly thanks in large part to news that a potential vaccine by Moderna is the latest to show promise against the virus. The Dow Jones Industrial Average increased by over 900 points, or 3.9%. The S&P gained 3.2% today and the NASDAQ improved by 2.4% as well. In short, the stock market experienced its best day in over a month. Another catalyst to today’s stock rally were comments by the Federal Reserve Chairman Jerome Powell who said in a 60 Minutes interview that “there’s a lot more we can do” to help the economy.
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