Good Times Ahead?

California Showing Strong Numbers.

Unemployment Rate Shrinks. California's unemployment rate dipped to 7.4% in June. According to an article in the Los Angeles Times, this signifies a milestone for the California economy, having reached pre-recession levels. The national economy, as well, is greatly influenced by California, a leader in technological, biomedical, and market venture capital innovation. All in all, this is great news! The highest growth areas were in education and health services and trade, transportation and utilities, which added 12,000 and 11,000 respectively. 

Lower Interest Rates. Lower interest rates and stabilizing home prices combined have boosted home sales in June, according to a report by the California Association of Realtors (C.A.R.)  

"Home prices are finally increasing at a healthier pace, and the smallest year-over-year price gain in more than two years suggests that prices are stabilizing," said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. "Last year's frenzied market of multiple offers, which drove sales prices above listing prices, has tapered off as the sales-to-list price ratio has dropped to a more normal level at nearly 99 percent, which signals a return to a more balanced market."