Your Weekly Update
As we navigate the current real estate market I want to provide you with the reality of where we are. The negative nellies like to tell you we are on the edge of a "crash" like 2008. The mortgage process was different then, than it is now. However. If you look at the first chart below. The number of transactions is about the same as 2008. That is driven by information in the second chart. Currently, 80% of all mortgages are at 5% and below with more than half of those being at 3% and below. Let that sink in. It's called the Golden Handcuffs. Homeowners will not move unless they absolutely have to or until mortgage rates come down causing the number of closings to be less and inventory to be lower as well.
Thank you for your time today. Call or text me anytime to let me know what I can do for you. I look forward to working with you now or in the future. . . . .
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