• Jessica Grier

Q3 2022 Market Pulse

Inventory is rising. Inflation is still an economic concern. Interest rates, though rising into 6% territory, is still historically low.

Listing activity was down in August and September but there has been a slow and steady build in supply. We are now up to 1.6 months of supply. However, it would take years of slow build up to move the housing market back to one of balance. For reference, 6 month’s supply is considered a balanced market.

Inflation is still an economic concern and it’s reflected in the continued rise in interest rates. In looking at historical data, the cyclical nature of the market still reflects we are in a low interest rate realm. I urge you to reframe this moment as an opportunity to take advantage of less competition in the market. If you are a buyer, keep in mind that you marry the house, not the interest rate—if you can manage the current rates for the next one to two years, you can re-finance when rates are projected to come down. Doing this also avoids being locked into a higher interest rate should they increase and putting yourself into a tougher position in a more competitive market later.

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