Happy Holidays! As Thanksgiving and Christmas come near, the Real Estate market is evolving daily. Read below for housing market information, mortgage trends, and the homeowner tip/trend of the month!

Local Market Reports

The Shelby County Market

Homes are staying on the market longer as the buyer surge is slowed by higher mortgage interest rates, but competition is lower for both buyers and sellers as less homes are coming on the market (27% decrease) and less buyers are entering the market. This winter reduction in housing inventory is typically linked to the holiday season, where most families prefer to avoid the hassle of moving during the holiday season.

The Jefferson County Market

While Jefferson has more than double the inventory as the Shelby County market, the trends are similar. New inventory is slowing ahead of the holiday season, and homes for sale are staying on the market slightly longer. This slowing trend should continue through the end of the year and pick back up in January. Home values continue to hold strong, while some sellers are beginning to offer buyer concessions.

Mortgage Rate Information

Great news! Mortgage rates dropped this week due to projections that inflation has peaked. The downward trend sparks great news for buyers and sellers, and future projections lean towards a ballpark 5% interest rate in the first quarter of 2023. For the full article from Freddiemac, click on the graph, or: Freddie Mac Mortgage Report

Homeowner Tips and Trends

In the mood for some redecorating? See the latest trends in interior design and decorating with this great article by Thomas Guy Interiors here: 6 Popular Fall and Winter Home Trends

Are you or someone you know ready to take the next steps towards buying or selling a home?
Please contact me today, it would be my pleasure to help you and be your REALTOR.

🦃 Happy Thanksgiving 🦃

-Shane