As promised, we’ve got stats. For the most part, they just confirm that we’re seeing more of the same. Inventory is down and prices are up. Mix in the first increase in interest rates in a decade that looks like it might be more than an temporary blip, and the situation is getting rough for buyers. My hope is that if interest rates do stay up, it’ll be balanced by a slow down in price increases.
What I’m finding interesting are the details behind the headline on the trends for rent prices. One bedroom rents are up, but studios and two bedrooms are showing signs of softening. Anything that helps buyers save for a down payment or gives them a good alternative in the face of low inventory is good news to me. I’ll be keeping an eye on it that.
If you’re looking for a breakthrough, you could hang out with Bertha. After a break for a quick course correction the drilling is moving into its final stretch. The tunnel is starting to look like it might actually be finished some day.