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– Never watched it more than once – E24

Broadcast United News Desk
– Never watched it more than once – E24

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Privatmegler top person Grethe Meier said brokers are struggling to find enough time to watch. In the United States, new data may determine whether it is a “single” or “double” rate cut.

Welcome: Privatmegleren Managing Director Grethe Meier reports on comprehensive progress in the field of displays.
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On Wednesday, Eiendom Norge published house price statistics for August.

The month now ending has been a hot one for brokers, if Privatmegleren and DNB Eiendom are to be believed.

– Privatmegleren CEO Grethe Meier told E24 that agents say they are having trouble finding enough free evenings and weekends to accommodate all the viewers.

She said they have never had so many screenings as they did during the last two weekends in August. Meier said Privatmegleren sales are currently up 15% compared to the same month last year.

DNB Eiendom reported a similar situation.

– The number of homes that were never advertised increased in August and the number of house sales has reached its peak, Renate Sørestrand-Hansen, Managing Director of DNB Eiendom, said in a press release.

See next week’s calendar at the bottom of the post.

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– Will continue to see high activity

Price statistics are expected to reflect the hot market sentiment. Meier of Privatmegleren believes that after seasonal adjustment, prices will rise, with a nominal increase of between 0.5% and 1% in August.

“DNB Eiendom expects nominal prices to rise by 1.5 percent in August,” a DNB Eiendom press release said.

– Large cities, especially Oslo, Bergen and Stavanger, are driving growth. Homes across the country are mostly sold below asking price, but in stressed areas more homes are being sold above asking price, especially smaller city centre apartments, Sørestrand-Hansen said in a press release.

Prices: This week you'll find out how much house prices have risen during the final summer month of the year.

Meier of Privatmegleren believes that many people are waiting to see interest rates peak in 2023. Sending a signal With interest rates finally set to fall again, people are rushing to buy or replace homes before prices are expected to soar next year.

– I think we’re going to continue to see a lot of activity throughout the fall. We’re not going to see the strong declines that we normally see,” said Meyer.

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This helps growth

Karine Alsvik, a macroeconomist at Commerzbank, believes that seasonally adjusted growth will eventually reach 0.3%.

– Since house prices always rise in August, this means we would expect nominal house prices to rise by about 1.4%, she said.

A decision could be made: Karine Alsvik, a macroeconomist at Commerzbank, believes that U.S. labor market data due on Friday will be important for the Federal Reserve's actions at its interest rate meeting later this month.

Brokerage firm DNB Markets also sees an increase in house prices in August, predicting a 0.4% seasonally adjusted gain from July.

Kyrre Aamdal, senior economist at DNB Markets, cited low unemployment, stronger purchasing power and population growth as factors contributing to the increased demand for housing.

– At the same time, the supply side is hampered by low new home sales and construction activity. We believe that, after adjusting for seasonal fluctuations, this will contribute to further house price growth in the rest of the year, Amdahl said.

Double or single?

In addition to Norwegian house prices, several key data points about the performance of the US economy are also provided.

The “most important data point of the month” is Friday’s nonfarm payrolls data, which shows how many jobs were created outside of agriculture last month.

Experts believe 165,000 jobs were created outside agriculture in August, according to estimates obtained by Bloomberg News on Sunday afternoon.

Jerome Powell, then-President of the U.S. Central Bank Give a speech At the Jackson Hole Symposium not long ago, he said the extent of future interest rate cuts depends on economic data.

After the speech, some pointed out that the data to be released on Friday will have a decisive role in whether the outcome will be. DoubleDoubleThe most common practice of the central bank is to raise or lower interest rates by 0.25% at a time. This is therefore called a single cut, while a 0.5 percentage point cut is called a double cut. Or simply cut interest rates in September.

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– A decision may be made

The market has already priced in a September rate cut. According to the tool, at the time of writing, there is a 30% chance of a double cut and a 70% chance of a single cut. CME Fed Watch. The excess weight has fluctuated in recent weeks.

Labor market data surprises I am July. This heightened concerns that the United States was about to fall into a recession, causing global stock markets to fall sharply for a period of time.

Since then, several key data points have suggested that the state of the U.S. economy is not so bad after all, and confidence in doubling down on rate cuts has waned somewhat.

– Commerzbank’s Alsvik said that if the labor market report surprises with negative results again this week, there is only a short time left before the market will price in the Fed’s decision to follow suit and therefore cut rates again.

– Inflation in the US is now under control, which is why the Fed is now paying more attention to the state of the labor market. They don’t want it to cool down further now. Alsvik said Friday’s data is one of the last information the Fed will consider at its September interest rate meeting and will likely decide on the size of the rate cut.

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