That is a HUGE number. Three times the average inflation rate. The above link is to a realtor.com primer on the impact of inflation on home prices. A couple of points that interested me. They discuss the worker shortage which I believe does exist but it baffles me how it does. So many people lost their jobs during the pandemic... Where did those workers go? The other point is one I have repeated often. One way to combat inflation is by raising the Fed rate. In my not so humble opinion that has to happen.
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This article is regarding the NAR Real Estate Forecast Summit. If you click here you can download the slide deck. The article mainly echoes what I've been saying, that we are entering a slow down but there's no reason to panic.
A couple of things that interested me are the fact that baby boomers are looking to age in place and we recently hit a 100 year low in birth rate! I did not know that!
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Wishing you and your loved ones a happy and prosperous 2022!
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This Crozet home I listed closed in late November!
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This Crozet lot went under contract on New Year's Eve! That's how hard I work! And it was late, too!
If you want to list your home, please list it with me!
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