Hello SMARTIES and Data NERDS (No CRYBABYs and AIRHEADS here!) –
We wanted to provide you with a sweet market update before Halloween. Although we don’t compile our official forecast until we have annual data, we do have a pretty good sense of where things stand. Despite some growth recently, inventory remains an obstacle since it’s really not GOOD & PLENTY. In fact, it’s still in pretty short supply. Sales and listing activity varies month-to-month and year-over-year, which will likely continue both NOW AND LATER. Prices remain strong (though not as elevated as the MILKY WAY), and are unlikely to decline in the foreseeable future–that wouldn’t be a FUN DIP. There is some evidence that we hit a slight SOUR PATCH earlier this year, but housing is not ready to ROLO-ver just yet. There’s really nothing that spooky in the numbers. If inventory expands, rates remain low and the economy cooperates, we could see a continued growth SPREE.
The Fed has stopped printing money like a JUNIOR MINT, but mortgage rates are still remarkably favorable. Rates are low enough to make even a non-farmer a JOLLY RANCHER. These low rates should be seen as a nice BIT-O-HONEY for buyers, but that could change (they aren’t an EVERLASTING GOBSTOPPER). Slowing global growth and trade WARHEADS are reasons for concern. The next recession is unlikely to be a WHOPPER like the last one.
No, things are not dire and no, the market does not need a LIFE SAVER. I can’t tell if this was a MILK DUD or just CANDY CORNy. We don’t mind being the LAUGHY TAFFY (SNICKER, SNICKER). Thanks for indulging with us.