Happy May!  Big week of data this week that can and will affect the housing market one way or another.  A lot of jobs report numbers will be coming out throughout the week, and we also have May's FOMC meeting with Mr. Powell.  The jobs market in America has been the stickiest thing the Fed wants to see break.  We have had some regional banks break as well, and that's what makes this weeks FOMC meeting so interesting.  The market expects another .25 bps rate hike, which shouldn't dramatically affect mortgage interest rates too much (already priced in), but his rhetoric is what I will be listening to and reading.  What is their plan for the remainder of the year?  What are they looking for next?  Have they seen enough to pause and let some things work their way through the system?  Three of the largest regional bank failures in history is quite something, do we really need unemployment to go up for the desired result of a softish landing?
All the while, the local real estate market is moving along.  Inventory is finally starting to increase week over week, and we should continue to see it climb into the summer.  This is good for the market as a whole as it creates a more healthy dynamic.  It helps buyers the most as more options become available and competition decreases a bit.  My belief is we've seen the highest mortgage rates for the year.  This benefits both buyers and seller, more affordability for buyers and continued demand for sellers that decide to sell.  It also benefits our traditional sellers.  The sellers that need to sell and buy their replacement.
It's the first week of May, let's see what happens!

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