Before I hop into this week’s “Facts and Figures”, I think it is fun to talk about the great things I am enjoying and watching in this great country.
First, ZILLOW has announced “No more home buying through the end of the year”. Supply Chain and Labor cited as reasons for the slow down. I might confirm this by reporting the last Zillow Listing I showed, lacked light bulbs until I finally arrived at the fourth switch. Makes for a “Dark Showing”… HeheHehe….
BITO opened today as a new ETF (Exchange Traded Fund) focusing on Crypto Futures. Looks like it may not race away like many new offerings have recently, but for now it is up about 3%. It’s hard for someone like me who has dealt in tangible assets his entire life to understand Crypto, but now you don’t have to understand it. Let the ETF people do it for you!
APPLE had another one of their VERY PROFESSIONAL presentations which should make your holiday shopping very easy this year. …buds, pods, macs and more…
Finally, on Apple TV, Dee and I wrapped up #TedLasso’s second season. We are told season 3 is coming. So, if you like the idea of a Kansas football coach turned soccer coach in London, then you will laugh out loud like we did.
This week’s market is is “more of the same”.
|New Listing (1015) Low, Still not enough new inventory to satiate this market!|
|Coming Soon (141)|
|Back On Market (226)|
|Price Increase (109)|
|Price Decrease (685)|
|Pending (1661) Where are buyers finding this much inventory. Buyer activity is still strong and aggressive. Pricing now is more key than ever!!!|
|Closed (1628) This is a very strong week for closings for this time of year. I’ve been wrong before, but I’m thinking 2021 is going to figure out how to break some records!|
Now, what can we learn from this year’s representation of total of SALES vs. LISTINGS?
What have learned through the 2nd to last week of October, 2021? It is clear, this market has great momentum going into year’s end, and it looks like we will roll into 2022 with the same ratios of limited supply.
In closing, Eliot Eisenberg has a daily blog post Monday – Friday. Yesterday’s was very poignant to interest rates and where they’re going.
The yield spread between the 5-year Treasury and the 30-year has recently narrowed despite rising inflation fears. The 5-year rate is up along with inflation, the 30-yr rate has barely budged. This is because markets now expect the Fed to raise rates sooner than later. That will weaken inflation and slow growth, both of which lower rates, especially long rates. To wit, historically rates generally decline when the Fed tapers.
Elliot Eisenberg, Ph.D. is a friend to the Realtor Community, and if you ever get a chance to witness his “ACT” in person, jump at the chance! Predicting where rates will go is for fool and newcomers, but he is definitely on to something here.
Have a great day my friends…tc