Market of the Moment - 8/19/2022

[Alan Walker]

You know that part of summer when the excitement of being out of school or anticipation of vacations makes everything sparkly?

Then as summer starts winding down, it gets a little boring cuz you know fall is right around the corner?

Yea, that's the market right now. Sluggish, staying about the same week over week. Fish tacos aren't as appetizing after that trip to Maui. You know, late August.

NAR announced, and by announced I mean they sent a press release to the news, that we are now in a "housing recession". That feels like a scary way of saying the mania we've seen for 2+ years has ended.

We haven't uploaded to the Cloud just yet, which means housing is still a fundamental necessity of society.

We still have a housing shortage in Utah. That shortage can be inventory related or it can be affordability related. In either case, holding real estate for the long term is always the smart thing to do.