I’m still optimistic about the real estate market this year. However, there is a reason I’m keeping a close eye on inflation.
In my last post, I talked about how I was actually feeling positive about the market for a change. While I’m still feeling good about the number of buyers we have out there, there is one word of caution I want to put out there. That word is inflation.
We are expecting inflation this year in the general economy of America, which will drive spending power down. We are also expecting increased interest rates, which also reduces the ability to purchase higher-priced homes. What could that do to the market?
How will that affect you in the long term if the trend continues? Well, it all comes down to supply and demand. If more buyers are buying, supply will drop and prices will rise as demand remains stable or increases.
I think that’s something to think about and consider. I know it’s crazy to hear me be positive about the real estate market, but I am. In the meantime, if you have any questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.