20 YEAR ANNIVERSARY
“Some people ask the secret of our long marriage. We take time to go to a restaurant two times a week. A little candlelight, dinner, soft music and dancing. She goes Tuesdays, I go Fridays.” – Henny Youngman
It’s Fall Y’all and October comes with a lot of good vibes, fun, and traditions as it represents my “birthday month” which you all know means a month of good times and this year on October 26th also marks Tom and my 20th wedding anniversary!
We have all read in the news that the Federal Reserve's interest rate hikes may be intended to give the housing industry a "reset," as chair Jerome Powell wanted, however, it also may have further confused homebuyers and sellers on what to do next.
Average 30-year fixed mortgage interest rates have spiked from 3.2% to 6.38% over the past six months, tightening supply as sellers hang on to those early, historically low-interest rates.
Powell said in an effort to cool "a red-hot housing market" to straighten a "big imbalance," he believes it will likely take a complex housing correction to fix things. In San Diego, the supply and demand imbalance remains and spectacular homes continue to sell very quickly.