Market of the Moment - 1/7/2022

[Alan Walker]

The market jumped up about 23 more homes active this week.

Maybe its gaining some winter weight? C’mon market, get chubby already!

Days on market are limbo-bar low.

Interest rate increase of .5% announced today. The news labeled it as “the largest rate increase in over a year.” But before you panic, they identified the new interest rate as 3.44%. Not sure that’s gasp worthy. I don’t see that increase running many buyers off given how incredibly low the rate still is.

Are we going to get to a place where we say, “Oh, that rate is over 3%, I’ll just wait.”? If so, the world has become Opposite Day every day.