David Stolle Sells Homes in Sun City, Summerlin, Las Vegas

01/10/2025

David officially retired from real estate in June, 2024. This page will remain in the event that he decides to resume a real estate career.

08/13/2024

U.S. Housing Market Nears $50 Trillion in Value as Number of Trillion-Dollar Metros Doubles...

The number of trillion-dollar metro areas doubled over the past year as the total value of U.S. homes rose 6.6% to reach a record $49.6 trillion.

08/13/2024

Home valuations are rising faster than incomes...

More than 80% of recent homebuyers said they regret their purchase, according to a recent Clever Real Estate survey.

08/13/2024

Weekly mortgage refinance demand soars 16% as rates sink to lowest level in over a year...

Mortgage interest rates dropped last week to the lowest level since May 2023, causing a surge in mortgage demand from both homebuyers and especially current homeowners.

08/13/2024

Market Movement for Monday, 08/12/2024

Mortgage rates trended slightly higher last week after falling to year-long lows the week before. Mortgage application submissions increased, as did continuing jobless claims. Initial jobless claims saw a substantial decline.

MORTGAGE RATES CURRENTLY TRENDING NEUTRAL
THIS WEEK'S POTENTIAL VOLATILITY HIGH

Market Recap
---------------
Mortgage application submissions increased a composite 6.9%, with refinance application submissions rising 16% and purchase application submissions climbing 1%.

Continuing jobless claims were at 1,875,000 during the week ending 7/27 – an increase of 6,000 from the week before. Initial jobless claims calmed market fears during the week ending 8/3, declining by 17,000 down to a level of 233,000.

08/06/2024

Home prices just set another record high as affordability crisis worsens...

New data published by the S&P CoreLogic Case-Shiller index shows that home prices climbed to a new record high in May as the affordability crisis worsens.

08/06/2024

Homebuyers Aren’t Yet Reacting to Lower Mortgage Rates, With Pending Sales Posting Biggest Year-Over-Year Decline in 9 Months...

Monthly housing payments have dropped to their lowest level in four months, but homebuyers and sellers aren’t yet reacting. In addition to pending home sales falling, new listings posted their smallest increase in three months.

08/06/2024

Market Movement for Monday, 08/05/2024

Mortgage rates hit their lowest levels of the year last week after the Fed opted to leave the benchmark rate unchanged (but hinted at a cut in September). Home price appreciation slowed, and the employment sector weakened. Mortgage application submissions decreased while jobless claims hit long-term highs. Pending home sales surged past expectations, while construction spending declined.

MORTGAGE RATES CURRENTLY TRENDING NEUTRAL
THIS WEEK'S POTENTIAL VOLATILITY HIGH

Market Recap
---------------
The 20-city seasonally adjusted Case-Shiller home price index inched up 0.3% month-over-month in May. Annually, the index was at 6.8%. Both the annual and monthly levels were a deceleration from the previous month.

The Job Openings And Labor Turnover Survey (JOLTS) showed that there were 8,184,000 job openings in June. Though this was higher than the expected level, it was a decrease in openings from the month before.

Mortgage application submissions decreased 3.9% during the week ending 7/26. Refinance application submissions decreased 7% while the purchase application submissions decreased 2%. Year-over-year, refinance application submissions were up 32%.

The ADP nonfarm employment change in July came in below expectations at 122,000. This is a decline from June’s change of 155,000.

Pending home sales soared 4.8% in June, more than double the expected increase of 1.4%.

The Federal Open Market Committee (FOMC) voted to leave the benchmark interest rate unchanged this month, however, Jerome Powell hinted at a rate cut in September.

Continuing jobless claims rose by roughly 30,000 to reach 1,877,000 – the highest level in 3 years – during the week ending 7/20. Initial jobless claims increased by 14,000 to reach a level of 249,000 during the week ending 7/27. This was the highest level in a year. Both numbers for initial and continuing claims point to weakness in the labor market.

Construction spending slipped 0.3% month-over-month in June. It was expected to increase 0.2%, which is a possible signal of a weakening economy.

The employment situation showed notable weakness in July. Average hourly earnings slipped to 3.6% annually with just a 0.2% increase month-over-month. The average work week shrunk to 34.2 hours. Government payrolls increased by 17,000, manufacturing payrolls increased by 1000, while nonfarm payrolls increased by 114,000. Nonfarm payrolls were expected to climb 176,000. Private payrolls fell below expectations too, coming in at just 97,000 versus the 148,000 expected. Though the participation rate inched up to 62.7%, the unemployment rate rose to 4.3%, which was its highest level since 2021.

08/02/2024

It’s too hot to sell a house this summer, some real estate experts say. What home sellers can do...

The summer heat might be slowing down home sale foot traffic in your area. If it's too hot, here are things to consider as a summer home seller.

08/02/2024

Home Prices Keep Climbing, But at Slowest Pace Since Early 2023...

U.S. home prices rose 0.2% in June, the smallest month over month increase since January 2023 on a seasonally adjusted basis. Prices in June were still up 6.9% from a year earlier, the lowest annual growth since January.

08/02/2024

Luxury Home Prices Spike 9% to All-Time High...

The typical U.S. luxury home sold for a record $1,180,000 in the second quarter, up 8.8% from a year earlier—the biggest increase in nearly two years.