Its an oldy but a goody. Have you ever had a dream that you are running but don’t seem to be moving forward (like running is water).
The National Case-Shiller Home Price Index shows home prices fell 0.8% in December, but they are still up almost 6% Y/Y. The FHFA (Federal Housing Finance Agency) released their numbers and are a close match Case-Shiller.
What does it mean? Inventory is low, demand is still there even with higher rates. The prediction of doom and gloom is just not panning out. If you are waiting for the floor to drop, the rates to improve, you have just invited your competition onto the playing field.
This is a buyers’ market more than ever.
Take the stairs even if the elevator is empty. Have a great rest of your week.