Kendall Racanelli on July 24, 2023 No Comments
We are excited to publish our Market Insights for July 2023! Please, use the link below to access our latest report:
Blue Pebble Market Insights (July 2023)
For those who just want “The Skim:”
1. Do these brakes work?
2. Demand: We’re Back, Baby!
3. Supply: Marco… Polo…
Now that Taylor Swift left Colorado, it’s time to get back to business. The jobs market, as shown in the ADP Payroll and Non-Farm Payrolls reports, doesn’t appear to be slowing down at all. And while this is a good thing for most families, it is making the Federal Reserve’s job much, much harder. Average wage gains registered more than 4% year-over-year and this is a leading indicator for higher inflation. Additionally, there will not be any forced selling in the residential market without broad job losses, and that makes the short-term outlook for housing affordability worse. While there was a bit of a reprieve in borrowing costs after the most recent inflation report, the US bond market is reacting to primarily stronger economic news by driving interest & mortgage rates higher. At the same time, buyers are getting more comfortable with higher rates, and we’re seeing demand start to pick back up again which means higher prices are also here to stay for a bit.
The current environment is proving our integrated brokerage model in which we can eliminate unnecessary middlemen and pass significant savings to our clients. Our buyers can increase their purchase prices while lowering their monthly payments in this crazy environment – give us a call to see how much you can save.
— Jared, Founder & Owner, Blue Pebble Group
TRACIE KONIGSBAUER
CLIENT ADVISOR – BLUE PEBBLE HOMES
We know there is a lot going on right now, and I am here to help you with any questions you have. Are you or someone you know experiencing a stressful real estate transaction?
Call me TODAY so we can get you on the right track!
PS — We are able to offer competitive pricing and discounts on your transaction by way of our affiliated companies.
Company NMLS 2447767
