As we now are entering the final month of 2022 here are some early December facts:
As the Real Estate Market has slowed these past few months due to the rise in Mortgage Interest rates, you would think that there would also be a similar slowdown in the business of building material suppliers like Home Depot, Lowes, and similar regional suppliers, as new home starts also have slowed. The fact is interestingly the opposite, with both Lowes and Home Depot announcing stronger-than-expected recent results. This strength comes from what they have analyzed as a very strong homeowner “improvement trend” which they attribute to homeowners and Landlords alike, investing and improving properties in record numbers. With many workers spending a lot more time in their residences due to the strong trend and greater acceptance by employers since Covid started, in the “working from home” model, many more funds are being allocated to improving spaces where more and more time is being spent by many: In their homes. Those renting are also making requests of Landlords for improvements where they live, due to this same new work from home reality for many. Upper level executives managing these giant Home Improvement firms are in agreement that their recent strength in sales, while a bit unexpected and not forecasted by them, does make sense. They attribute this strength, along with the increases in the price of home improvement materials thankfully slowing, to so many working from home and more than half of our nation spending many more hours indoors due to both lack of daylight realities, and to seasonal, much colder temperatures as winter begins to surround us all. Everyone wants to enjoy the spaces in which they spend the majority of their time.
Another fact as this blog is penned, is that Mortgage rates, though still high by recent standards, have eased slightly recently, which is a trend that everyone hopes will continue.
With that said, there is never a better time than right now, for us to assist you with your Real Estate needs. Our team of experienced Real Estate professionals here in the great Maine Lakes Region would enjoy chatting with you about your thoughts, so that we can understand your needs and goals, and assist in mutual confidence.
Make it a great week, and contact us today!