Market of the Moment - 2/25/2022

[Alan Walker]

And the beat goes on. This drum hasn’t stopped beating for a while. Active homes in SL county under 700k is hovering between 130 and 140. One of my projects hit the market last week and I had 14 offers in 4 days. By comparison, last year, I would have had 30. So not as manic as its been, but definitely manic enough to need medication. Are higher interest rates the shot in the arm we need? In my opinion, (you know free advice and worth every penny kind of thing), unless interest rates are in the 5’s, I don’t see people pausing their search. Keep in mind, my first interest rate in 2002 was 6.25% and I thought I was getting a screaming deal. Perspective really is everything in this market.