Happy Thursday….
Why am I happy with numbers like these above? Because I am helping some first time home buyers get into a home today.
Today is Closing Day!
I expect to have 3 more this month.
I tend to excel right before the market goes sideways.
I think this market is about to go rollercoaster sideways.
I think October will have an average amount of closings, but I think we are going to see a steep decline of closings for Nov and Dec.
Why? Because buyers are not touring the past few weeks. And no tours, mean no offers. No offers mean no contracts and no contracts mean no closings. I think we will start to see prices drop some in January.
Not a cliff but maybe 10%-ish.
I also think we will see 9% Mortgage Rates before we see 6%.
Who disagrees with me?
Call me, lets talk and bet lunch on it.
So the pressure will be on the inventory to make the homes affordable to buyers. Hence price drops…
Also, there will be solutions for buyers like adjustable fix rate mortgages or 3-1 buy downs. And lower prices. Curious reach out.
