Happy belated Veteran's Day to all current and former servicemen & women. Thank you for your service to our country! Well, it seems bond traders are more reliable than polling data. I'll try to remember that for 2028. Welcome back to the newsletter post-election. I wrote two weeks ago about the financial markets and the bets bond traders were making in their anticipation of the next US President. I don't know about you, but I think it is kind of cool to put those pieces together in real time and watch them play out. Regardless of politics or preferred candidates we literally pieced it together and the results were clear. With the election out of the way, we can wait and see how the real estate market plays out through the remainder of the year. Many of the things I heard, and the rumblings I saw online were people waiting for the election to be over. I never quite understood what there was to wait for, but now we can see how the data rolls in over the coming weeks and notate any changes. As things sit, mortgage rates are back above 7%, purchase applications have recorded six straight weeks of negative prints, the market action index for Sacramento County is still at 50 and median DOM is around 35 days give or take across all price ranges. Given the current dynamic, my recommendation to would-be sellers is to wait if possible, and my advice to savvy buyers comfortable with the estimated monthly payment is to get shopping. We had a ton of fun in Santa Cruz this past weekend. The weather is just perfect during this time of year. Our dinner Friday night at Shadowbrook was fantastic. I can not recommend it enough. It is celebrating 77 years, and is considered a top 100 most romantic restaurant. The ambiance and service are just incredible. What are you seeing or hearing? I'd love to know paul@guiderealestate.comVisit www.paulpelettarealtor.com |
