The 8.83 increase was calculated by the rise in the average U.S. home price over the last year. An additional 18,000 California homebuyers will ne able take advantage of the savings offered by qualifying for a mortgage with the higher limits. Even more will benefit from refinancing. The figures are the first sign from the jobs market that the economy is slowing and paves the way for the Federal Reserve to change its stance on interest rates at its December 19th meeting. Most economists expect the Board to adopt a neutral interest rate bias.
Tourism is a huge part of our local economy.
The survey shows a static total number of travelers, a decrease in the average length of stay, and an increase in tourists' median income and daily spending . The ConVis Vice report shows the county's visitor profile is gradually shifting, in part because of the strong economy. Our average visitor is a little older, a bit more affluent and is more sophisticated than the national typical visitor. Total overnight visitors increased from 14.7 million to 15.1 million. Day visitors decreased from 11.9 million to 11.4 million.