I just got back from a quick 4-day trip to Boston to the National Association of Realtors Conference. We packed in governance meetings, inspirational keynote speakers, education, super yummy Boston food, parties, and fun. A fiend from Dekalb County was just installed as the National Women’s Council of Realtors President. There were two things that were pervasive in her acceptance speech, the importance of family first and gratitude. She attributed all her professional success to those two things. Sure, she worked hard, made friends, networked, gave back to her industry, and practiced self-improvement but those weren’t what she attributed to her success. I have thought a lot about Tammy’s speech and in our Month of Gratitude I hope you will give that some thought too. I have a great quote below by Gertrude Stein. Tell someone today that you are grateful for them and why. It will mean the world to them.
Interest Rates! My favorite recurring subject. They are back up just over 7%. The Bond rate which dictates Mortgage Lending Rates is slightly weaker pushing rates back in the direction we didn’t want. This morning, we will see a big data point come out, the Consumer Price Index, an inflation report. The CPI has a good track record of inspiring reactions in interest rates. Don’t worry I will be back next week to let you know how the CPI affected the rates next week.
Atlanta Real Estate Snapshot of the Week
New Listings This Week – 1,872
Total On the Market – 23,227
New Contracts This Week – 954
Closed This Week – 548
Did you know that in 1995 we sold about 3.85 million homes in the US. Since then the population has grown by 70 million people however in the last 12 months we have sold almost the same number of homes we sold in 1995. This pause button on home buying and selling has a lot to do with 85% of the 88 Million Homeowners in the US having either no mortgage or sub 5% interest rates. I feel like as soon as the rates start to cooperate and move down it will be like a dam bursting with pent up home buying and selling. When that happens, please refer your friendly local real estate agent.