Late Summer Housing News
The big news in August centered around the economy, including escalating trade wars, interest rate cuts, and bond yields that reached what’s called a “yield curve inversion,” which can indicate a recession is looming. All of these factors have a ripple effect in the housing sector. As of September 6th, the interest rate for a 30-year fixed mortgage (conventional) is 3.75% and trended downward throughout August. At the same time, CoreLogic’s Home Price Index report is forecasting a 5.4% increase in home prices on a year-over-year basis. What does that mean? Interest rates are falling which means it can be more affordable to take out a mortgage loan, but this is mitigated by the continued increase in home prices.
Locally, West Virginia’s housing market remains strong, which is in keeping with national trends. Home growth increases year-over-year are at 3.36%. Mortgage delinquencies are still in a long-range steady decline, but with a slight edge up in July 2019. Regionally, low unemployment, increasing home values, and real income increases are keeping West Virginia in a steady economic pattern that is keeping more people in their housing.
Looking for work? Start here:
The company Job Case has launched a new website called Discover WV Jobs. Job seekers and employers from around the state can now search for work or workers. Touted as a “social media platform for the future of work,” the site also provides tools for resumes, profiles, and community forums for users to share advice, tips, and triumphs with each other. Presently, jobs in construction and healthcare are the most in need of workers to fill positions.
Check out the site: http://www.DiscoverWVJobs.com
West Virginia’s “Last Dollar In” Showing Promise
The program, passed in the last legislative session, creates a grant program that provides tuition assistance to community and technical colleges. Students are required to learn how much in assistance they can get from state and federal grants, and West Virginia will supply the rest of the needed funds. The grant program was implemented this year, and Sarah Tucker, the chancellor for the state Community and Technical College System, states, “we’ve got 2,000 students who are going to school for free in the state of West Virginia,” either because of the grant program or because they learned they qualify for a federal Pell Grant. The program is just getting started, but with more training and technical education, these students are more prepared to meet the needs of in-demand jobs.
Learn more: Tucker Happy With WV Invests
Mountain Heritage Fall Festival
A favorite of mine, the Mountain Heritage Fall Festival is coming September 27, 28, and 29. Over 200 regional artisans and craftspeople participate in the annual festival, and it’s amazing. Three days of art, craft, bluegrass music, wine tasting, food, and more! The festival is being held in a new location this year, so be sure to check out their website for more information. (There’s a coupon available there, too.) Learn more about it here.
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