Spring Impact Phil or Jerome?

by Jacque Vaughan, Broker Owner of Mint Door Realty
 

February, people were looking to Phil, the groundhog to determine Spring.

As a Realtor, I was looking for Jerome.  Jerome Powell the chair of the Federal Reserve who has been all about curbing inflation.  
 

Some home sellers are waiting for current interest rates (under 7%) to decrease.  This will make it less appalling to give up their current super low interest rate.  

 

While sellers wait, well qualified buyers continue to struggle to find inventory for homes to buy.  Especially as Richmond ranks higher than NoVa in annual city performance study
 

Other Long Reads:

🏠 How will mortgage rates impact seasonal inventory in 2024?

🏠 Jerome Powell on 60 Minutes


 🔮 Next week, we will be highlighting Affordable Housing Options in the Richmond area