May flowers and allergies!  I hope everyone is handling all the blooming trees and flowers well.  We are gearing up for another busy summer of baseball here.  Violet is wrapping up her first t-ball season, and Pete was chosen to play for the 9u Laguna All Star's again.  We love ourselves some baseball and all the families we've met, so we are excited!
Another big week of news that can affect mortgage rates.  We have not only end of month job numbers, which the Fed watches closely, but also the Fed itself and their interest rate decision at the FOMC meeting later today.
Proactively speaking, we are getting into the peak of Spring.  Housing inventory is rising, mostly due to the recent mortgage rate moves back over 7.4%.  Home's on the market that are mispriced are sitting longer.  As of Monday, I'm seeing a sizable jump in price decreases.  Week to week data is so important, which is exactly why I've committed to this newsletter every single week.  With that said, homes that are priced and prepped appropriately are getting into contract quickly.  Do not get it twisted this is still a very strong seller's market.  There's still nothing that shows a flood of supply coming, so the thesis remains, any fall of mortgage rates back into 6% zone will create an absolute frenzy.  Both buyers and sellers need to be prepared.  Let's see what blossoms in the market in May.

I'll be doing my Summer Kick-Off event again.  The bar tab and appetizers are on me with fast casual style tri tip and fried chicken sandwiches available for purchase.  Come hang out!  If interested, please click the image to RSVP.

What are you seeing or hearing? I'd love to know paul@guiderealestate.com
Visit www.paulpelettarealtor.com