What kind of effect does the stock market have on our real estate market?
As we know, the stock market goes up and the stock market goes down. Right now, a lot of people are putting their money into the stock market as a retirement investment. Sometimes, things happen in the market that can make these people nervous. They hear things like inflation is up and the stock market isn’t giving the same kind of return, so they start pulling money off the table.
The stock market really hasn’t had any effect on our real estate market, though. Interest rates went up three times last year and they’re currently the highest they’ve been in four years, but inventory is still extremely low, which means buyers are still out there purchasing homes.
We expect two to three more interest rate increases this year, but they’re still at fantastic levels. They’re at 4.5% now, but when I got into the business in 1979, they were at 12.875%
If you have any other questions about the the stock markets impact on our real estate market, don’t hesitate to reach out to me. I’d be happy to help you.