The Fed is starting to talk about tapering, which basically means less propping up of the economy. Since the pandemic hit, the Fed has been doing primarily two things: Lowered the “Fed funds rate” which is the rate for banks when borrowing money from the Fed to lend to people. They’ve lowered it 1.5% and …
When looking at recent data on the residential resale market, I like to pay attention to new home construction, mostly because they have much more control. We don’t actually have any influence on when someone decides to list their home (residential resale numbers), so it can be more difficult to dig out that data. The …
A fellow NextHomie, Mike Drutar of NextHome Paradise Realty, hit me with this stat a few weeks back and I thought it was powerful enough to share with everyone (thanks for the share Mike!). This graph is the Google Trends report for the search term “real estate” from the last five years and here is …
I’ve been having a “sense” that inventory is creeping up. It’s been all antidotal with seeing a few price reductions on some various real estate searches I always have running, hearing stories about the five offers instead of the twenty-five offers, things like that. I mentioned this in passing with a friend at SmartZip and …
Inventory is on the rise: summer stall or real trend line? Read More »
Given the latest movement in the market, I thought it would be important to address inflation concerns. Here you can see the Core CPI and CPI modeled together both rose sharply. Like all data, you can use this to tell two different stories. People like to paint the target they like around the arrow that’s …
Let’s dive right into the market updates as of late. This economic update will be a little longer since we’ve gotten a convergence of news that is worth noting. Rates: It’s the second straight week of lowering rates. I’ve been paying attention to the pace that rates were rising, we were hoping for a taper …
Those of us in the industry have been saying this market is “crazy” for a few months now, and we’re not wrong. Here is one small example of the crazy – a house in Citrus Heights, California was so popular, they had 122 offers on the home. That’s not a typo. I didn’t mean to …
For this month’s Economic Update, we’re addressing a slightly different topic than the usual happenings in the residential real estate world. A recent report by the federal government on the current state and future of commercial real estate is something worth noting and paying attention to. There is a lot in the report but the …
Providing a prediction for 2021’s economic outlook seems a little silly, because if anyone had a 2020 forecast, well, they were wrong. Really, really wrong. But what the heck, I’m not afraid of much, so let’s go ahead and break down what Crazy Uncle Keith thinks 2021 will hold. Just remember this is based on …
2021 Housing Market and Economic Forecast, Unfiltered Read More »
Should I sell my house right now? Can I even sell my house right now? Are there even any buyers? How do I stay safe? There are so many questions right now from people who are thinking about selling their house, and rightfully so. The unhelpful but truthful answer to all of these questions is… …