I spent some time this week with “Reports on Housing” expert, Steven Thomas. He was amazing, incredible, so informative, and knowledgeable! I learned so much my head hurt! Steven Thomas is a California Real Estate Broker with decades of real estate experience and a degree in Quantitative Economics and Decision Sciences from UCSD.
During the training, Steven took us through all of the things that influence our housing market. He talked about the Debt Ceiling, Unemployment, Inflation, Interest rates, and the Economy in general. Those attending saw so many charts and graphs depicting the housing market over the last five decades, and Steven did an excellent job of explaining what it all means.
My big take-aways were: sellers are unwilling to enter the market at this time, so we have low inventory; buyers are hesitant to take on a mortgage with the interest rates today, so we have low demand. Overall, we have fewer homes bought and sold right now.
The good news he shared is that the powers-that-be are working to slow the economy, reduce inflation, and bring down the interest rates. Steven’s prediction is that we could see these things start to happen as soon as August of this year. He also reminded us that regardless of the economy, some people HAVE TO MOVE for a new job, to be closer to family, or a death or divorce.
If you are in a Must Move situation, I’d like to introduce you to my Hustle Humbly gals, Katie and Alyssa. They are who I listen to every Monday to learn all things Real Estate. Although their podcast focuses on helping real estate agents, they recently recorded two episodes just for you, the consumer. One is a podcast all about how to buy a house and the second podcast gives all the steps to selling a house.
Click on the links embedded in the text to read and listen for free, and if you have any questions, I’m happy to help. Come visit me over at FirstHomeEd.com and let’s chat.
So many good things to come,
Diana
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