Local Real Estate February 10, 2023

National Real Estate Market Update – September 2022

Feeling overwhelmed with the increase in inflation? Are you curious if there is even a possibility to sell or buy with all that’s going on. I understand the overwhelm, but there is good news. We are seeing some changes in the market that may put you more at ease. Hi, I’m Maya Crelan Ray with David Lyng Real Estate, let’s see what experts are talking about when it comes to inflation and the real estate market. Lawrence Yun, the Chief Economist at the National Association of Realtors said “If there is a sustained decline in gasoline prices and more production of apartments and single-family homes, consumer prices will pull back, encouraging the Federal Reserve policy to
be less aggressive…Mortgage rates will fall.” But are we going to see that actually happen?
Realtor Magazine reported last month a 7% monthly decline in gas prices, but a continued rise in rent costs, which indicates that there is likely still a housing shortage. Headlines can be
scary, and while we can’t say for sure what the Fed will do with interest rates or how inflation will behave, I can help keep you up to date and informed on the Santa Cruz Real Estate market to help you make the best decision for your family and your home. Reach out to me to find out if it’s the right time for you to make your move. I’m Maya Crelan Ray with David Lyng Real Estate and as always I hope you have a great day.