December 2022 Newsletter Introduction

Christmas has arrived! Have you gotten all your gift shopping done already, and all your events planned out? Over the years for me, the idea of gift shopping has been less exciting, to the point where I don’t even want to purchase anything since the gifts may be of something they don’t like. After the two years of Covid, I have been very slow in planning and getting into the spirit of Christmas. I’m still contemplating if I want to make gifts or just don’t bother all together. SORRY for sounding like a Debbie Downer. I enjoy the aesthetics of the season, but to me I rather just use this season to spend time with family and friends that means the most to me, and just not spend any money if possible. Since many people are tight on their finances, if I can save here and there, then it would be the ideal Christmas for me. Nay or yay?

In my last newsletter about the market, my insights are relativity the same.  The government has just announced this month’s interest rise and we’re still waiting on the one in late January. As a result, there is a potential that there would be large influx of sellers needing to sell in early Spring as they may not be able to keep up with their mortgage payments / possibility of a large amount of foreclosures which some buyers may want to wait to take advantage of this opportunity to purchase a home at a better price. There has been some activity of investors taking a chance to purchase with aims of purchasing pre-sale as a way to park their money.  As for rates, The government may stop increasing the rates after January or may continue till Spring. Once rates have stabilized, a possibility of demand may arise as new buyers have the confidence to start looking again. If that is the case, it may be best to look now even if inventory is low.  

– Sam