Oil hit $85 a barrel this week.
Mortgage rates are now sitting at 6.75%.
And active listings just grew 2% year over year.
Here's what that means for you.
Rising energy costs from overseas uncertainty are pushing Treasury yields to their highest levels since 2007. Mortgage rates follow within days. We're now three quarters of a point above where we were in early July.
But inventory tells a different story. We have 1,126,000 active listings nationally. Growth has slowed from 32% last May to barely 2% now. Pending sales are up just 2% too.
This is a balanced market. Not too hot. Not too cold.
And late summer is historically one of the best windows to buy. Inventory is still elevated. Competition is light. By spring, that changes fast when buyers flood back in.
This moment won't last.
I'm tracking exactly what's happening in our local Phoenix Valley market right now. Inventory levels. Days on market. Price trends by neighborhood.
DM me directly and I'll show you what's available in your target area before the spring rush hits.
