Fun Fact Friday 💰 9/1/2023

Friends,
I’ve got 3 fun facts and 1 quote to share with you today. Thanks for reading and as always, reach out anytime with questions!  (Want this delivered to your inbox weekly? Subscribe HERE.)

Blessings,
Andrew

Fun Fact 1:
Roughly one-third of ALL homes for sale in the US are new construction.  Even pre-2008, the largest housing bubble in history, only saw a peak of 17% of supply being new homes.

Source:  The Kobeissi Letter

Fun Fact 2:
The effective rate on all mortgages across the US is currently 3.6%.  That’s 52% below the current average 30-year mortgage rate of 7.5%.  90% of ALL borrowers currently have a mortgage rate below 5% and 26% of all borrowers have a mortgage rate below 3%.

Source: The Kobeissi Letter
Commentary: Who wants to give up their low mortgage rate if they don’t have to?

Fun Fact 3:
Our Pikes Peak region saw July home sales totaling 1,119 compared to 1,403 in 2022 and 1,844 in 2021.

Source:  PPAR, Realtor Service Corp
Commentary: Obviously the “have to” sales are still happening but there are clearly not as many “want to” sales. The silver lining here is that the low inventory is keeping pricing stable.

Quote I’m pondering:
“One of the simplest ways to win is to always connect the small things you do to the larger thing you hope to accomplish. Five minutes can be spent working on something trivial or working on something life-changing. A brief session of work oriented toward a great cause is always time well spent. Most daily actions evaporate. Some accumulate.” -James Clear

Thanks again for reading. Subscribe HERE to get this delivered to your inbox so you never miss a read.

---

Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, an offer to buy or sell any security, or to buy or sell real estate property. Read our full disclosures HERE.