Real estate is local, but nationally, home values are up 2.1% year over year despite higher interest rates.

The Fed kicks off its two-day meeting today, with the press conference tomorrow afternoon. We don’t expect a rate hike.

Durable Goods Orders rose 1.8%, beating the 1.5% forecast. However, a surge in aircraft orders drove much of that gain, so it’s hard to tell how strong the underlying demand really is.

The good news: rates are holding on to their recent gains this week.

My take: The market is pricing in the higher interest rates with more power in the buyers hands, they just might not realize it yet. Yet is the key word.

Get ready or get your clients ready for the new year.

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