HOMETOWN R E A L T Y
Cheers to the Holiday Season
As we look ahead to the Holiday Season, our team would like to take this opportunity to express our gratitude to those that continue to trust us with their real estate business and support us unconditionally. Supporting our small business rooted in serving the community means the world to us and we are so thankful. This is my favorite time of year as I love Thanksgiving. Gathering family and friends around the table to share in food and fellowship is such the epitome of “home” to me. Growing up in the South and the Midwest, Thanksgiving was always a big deal. Tons of people, kids running around and the pies, oh my goodness, all the different pies. Nothing says gratitude like pie where I am from. Our team will be continuing our tradition of making 100 pumpkin pies just like my mom did for our clients and friends. This tradition is so special to me and grounds me not only in honoring her but also in showing and sharing love and connecting me to my small town roots. We hope you will stop by on Wednesday, November 22, 2023 and share in a toast to the holiday season and pick up a homemade pumpkin pie. Turning to the market, there is much to be thankful for and some things that we are not so grateful for. As we moved through the 3rd quarter, the continued increased interest rates above 7% appeared to be deepening some consumer pessimism about the market while some buyers started to take advantage of the decreased demand to buy their next home. Home buyers adjusted their expectations and settled into a realistic approach to what they could afford on a monthly payment basis. Inventory levels have decreased to lower than average numbers as sellers that needed to sell took lower than list price offers and sellers that didn’t need to sell started to take their homes off the market. Heading into the 4th quarter it will be interesting to see if this lower inventory level starts to push pricing slightly higher as we see serious buyers coming back to the market. There are many mixed messages about interest rates in the next 6-12 months, but having been in real estate for 20 years and been through various markets and cycles, I expect us to see some rate relief as it will be an election year and history will likely repeat itself with some pressure on the Fed Chair. A recent Fannie Mae survey showed that 63% of those asked said it was still a good time to sell their home. We are continuing our homeowner survey to see how our local market compares to national statistics. You can find more information in this issue to participate. Now more than ever local expertise and experience are needed to navigate this market as “when to sell” or “when to buy” are becoming more relevant considerations. I am a battle tested Realtor who has always been committed to being ahead of what is around the corner not only for our team but also our clients. For more market insight be sure to follow me on Instagram @marymaloney and our office @myhometownrealty. As always, if we can be of service to you in planning your next move, please reach out to us.
Cheers!
- Mary Maloney Founder & Team Leader ULTIMATE LUXURY
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760.798.1784
MOMSTOWN • NOV/DEC 2023
