January 23rd, 2022 Monday Market Update | Miranda Alt Real Estate Team | KWSR

Happy Monday! What's going on in the housing market? Low inventory continues, and there is an exciting development with mortgage rates - they are stabilizing! While they are still double what they were last year, they are still historically low, and are not as aggressive as we were seeing in September/October when they ceiling was unknown. Now, they are remaining generally consistent around the 6's, and are even projected to continue to lower as we get into the spring/summer.

Sales are down overall, and 2023 is generally going to be a "normalizing" market year, meaning we are transitioning into a more balanced market that is less buyer or seller heavy, rather balanced with that 4-6 months inventory. This will be a slow process and we are still in that seller's market with a nationwide average home supply at 2.9, along with around 1 month's inventory locally.

Let me know your questions! Thanks for watching! #mirandaaltteamrealestate #kellerwilliamssuccessrealty #kwsr #mondaymarketupdate #marketinfo #inventory #homesale #homeprice #midwestrealestate #mchenrycountyrealtor #interestrates #mortgagerates


Did you miss our previous article...
https://trendinginrealestate.com/real-estate-trends/public-sector-reits-will-face-another-downturn-says-cantor-fitzgeralds-howard-lutnick