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Now that we’re shifting back to a traditional market, it will feel like a loss to some. But in reality it is a blessing for the market to stabilize. We need normalization to keep the long term market healthy.
MARKET SNAPSHOT
Look at the graphic below, the most important number is obvious.
We had almost 50% appreciation in 4 short years. That is incredible.
MORE IN-DEPTH NUMBERS
If you want to dig a little deeper, here are some numbers for you including Pendings (aka under contract inventory) and Days on Market.
INTEREST RATES
Rates continue to rise and the Fed does not seem to be eager to bring them down soon.
Here's an interactive chart of Interest Rates and a chart since 1975 if you are curious about the history.
3 REASONS TO BE POSITIVE
*this image is for all the parents of toddlers out there. #blueyforever
We don't have a glut of homes on the market. We're actually below normal inventory numbers.
People have great rates on their current mortgage, and they can afford their homes. We don't have distressed sales hitting the market.
The Fed will hit their target on inflation, and rates will come back down.
Rates are the outlier in an otherwise pretty normal Fall market. But when you’ve been in an abnormally hyper market for years, even a normal market is going to feel weird.
If you have specific questions about the market, reach out to me!
Wendy Monday
Broker,
PARKS Real Estate
615.642.1313
@wendymondaysellingnashville on social
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