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Spring training has arrived and Spring real estate is starting to peek it's head out.
A wild week of economic inflation news sent our beloved 10yr yield marker up over .14 points in one day (wild!). It followed that up by erasing all of that increase the very next day and then proceeded even lower. As I type we can see the 30yr mortgage back below the 7% mark. We also saw another positive print of purchase applications. As we sit today, we now have two negative prints and four positive prints to start the year. One of those weeks, if we remember, saw an increase of 30%! If we combine this with the numbers from January, overall, it looks like the market is slowly heating up. The good news for the prepared buyer is the nearly 10% increase in active homes for sale. If you remember a couple weeks ago, I mentioned the vibe of the unserious buyer I was sensing. Closed home sales in January was down 25%. Another feather in the cap for the prepared and serious buyer as those homes that didn't close were either extended or will come back on the market. More inventory = more choice.
On the business side of things, my listing that saw two buyers cancel on us finally closed. The Pizza My Heart event while smaller than previous years was a success. Our next event will be the St. Patty's scratchers, let me know if you'd like to be added to my mail list.
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