Steve Olson
Jenny created this video after doing some research for a client. She asked why inventory was down so much from years past.
Here is one of the main reasons why...
Does this mean you should hold off on buying a home?
Not at all. This is the new norm. The days (as outlined below) of 3% mortgage rates will never come back. In fact, they only happened once since the Great Depression.
Aggressively low interest rates inflate the value of real estate (which is partially why pricing skyrocketed in 2020-2022).
To see a real life example, watch above.
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Here are the Carlsbad Average Sales Price numbers for the past 12 Months:
For context, here is the average mortgage rate for a 30 year mortgage for the past 25 years (since 2002)
Here is the Micro Deck Jenny mentioned in the video.
