Market of the Moment 2/11/2022:

[Alan Walker]

At an investor meeting last night a seasoned loan officer talked about the Fed and what they think will be happening this year. The Fed has stated that they want to raise rates up to 5 times this year. His take was that they will make small upward adjustments but that we’ll still be in the high 3’s for primary purchasers with good credit.

Please picture me in a turban with a crystal ball. You couldn’t help it could? The moment I said it you thought it. Next up, think of a blue elephant! :)

Our market remains constricted. Back up to 140 active homes in Salt Lake County under 700,000. For buyers agents, its hard out there for a hustler.

I know inventory will increase by at least one house next week as we list our next project. So there’s some relief for that one person that buys it!