What the New Year brings!
First let me acknowledge that today is a National Day of Mourning for former president Jimmy Carter. He may not have had a remarkable term as our president, his life was remarkable in many other ways. He was, in my opinion, a kind and compassionate man who set an example of how to care for his fellow man.
With the wildfires in California and the polar vortex freezing a good part of the rest of the country, it may slow some people from seeing homes and making offers this weekend. However, my clients are seeing a high number of people either coming back into the market looking to buy, or those getting information about what selling and buying would look like. A very solid first week of 2025 indeed.
The FED continues to look at data quite differently than most of the rest of the industry. I find it absurd that this group could possibly think that the current fed funds rate is near being neutral. This must be the very same group of people who thought inflation was transitory! Very sad indeed!
Much of the data coming out from the marketplace shows that home appreciation rates were far better than forecasted by the “experts” and that those who keep calling for a housing bubble will have to continue to wait a good bit longer before getting their wish. Basic supply and demand tell a different story. And before anyone wants to start panicking about growing home inventory, please take a look and see that we are still well below pre-Covid levels, when most of the agents were complaining about a lack of inventory!
December jobs numbers on Friday, so just be aware that this will be something that could move the markets! As always, if you have questions or comments, it’s [email protected]
