In a three month period that ended in April 2022, the luxury homes market showed that sales dropped almost 18% year over year. For that same time period, non-luxury homes sales totaled less than 1/3 of the luxury year over year percentage. The only other time this has happened in the last ten years was at the end of May 2020 and also at the end of June 2020. The good news in this is that inventory...
News stations have been reporting that inflation has reach a forty year high at 7%, but that they expect it to decrease to 5% by summer and project to have it down around 3-4% by the end of 2022. In order to accomplish this, the Feds will need to hike interest rates 1-2 times this year. As a result, the National Association of Realtors expect 30 year fixed mortgage rates to increase to approximately 3.7% -...