Two GREAT Pieces of News About The Market (Must Know For Realtors!)

Hey guys, we've got some good news regarding the real estate market, and that is Fannie Mae does a study, it's a purchase sentiment study. They do it every single month. And finally it's broken the downward trend.

All the way since back in February of 2022, there's just been this downward trend with sentiment among buyers and sellers about the market, about buying, about selling. And it really hit a low point here in the last couple months, but it's broken. Now it's starting to come back up.

Buyers and sellers are now seeing a little bit of a rainbow at the end of the tunnel here. They're saying the worst is behind us, and it's starting to look a little bit better.

So this is good news for us. We're gonna combine that with another piece of good news, which is affordability.

So affordability over the last couple of months has gotten way better. We had an interest rate peak, and now it's come down, down, down, down, down, and it's continuing to come down.

Over the last two months, we've seen it go from about somewhere over 7% now down to 6.33%, and it's likely to come down more.

So what's causing this is the inflation numbers are coming down as well. We just saw the November inflation report come in and it's come in lower than it was the month before. So even lower than what people analysts expected. So that's good news.

And with that, the anticipation is that if inflation continues to drop, the Fed will be able to continually drop the interest rates. Or at least stop the rise of interest rates, and you'll see that the mortgage rate will also follow. So it's good news.

In the last two months, affordability of homes has come down by 8%, so that's good.

Homes have become more affordable by a factor of 8%. Why? Interest rates have a massive impact on affordability.

So some good news there for the market. You should be going out and sharing that good news with your local buyers and sellers. Get them excited about coming back to the marketplace and see if they are interested in having a conversation about doing some real estate business. You'll be surprised at how many people just want to talk real estate when you bring real estate stats and studies and figures up.

Have a great day, and good selling.

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