Navigating war, the first of as many as 6 interest rate hikes and record low inventory has made for a nutty market. Personal notes here:
I don't worry about the war much and how it affects the market. Sanctions increasing gas prices is a real drag, but changing whether or not someone chooses to purchase property is probably not likely. People still need a place to sleep especially when you're so physically so far away from the action.
Rate hikes area a real drag. However, 20% year over year increases are nuts and create a challenging market for all parties involved. It's great to know that if you list your home within a reasonable price point, you can nearly guarantee an offer and sale. However, if it's not an investment property and you become a buyer, welcome to the stressful situation so many people have been in for such a long time.
Although inventory is at a record low, I'm beginning to see the higher price market sit on the market finally!!! This could seem a little dangerous, but we need it in order to slow this double digit year over year increase for the market.
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