Introducing: Nashville Housing List

Steve Jolly here.  I'll be with you every week throughout the housing season bringing you the latest on the best deals, money news, and my thoughts on the market.  If this once-a-week email is too much for you, then hit the unsubscribe button below.  I promise...it won't hurt my feelings.


For the rest of you, Let's Get to Business


DEALS

INVESTOR ALERT: This home in West Meade goes to auction online with a starting bid of $286,000.  The auction runs from Saturday - Tuesday.  Reach out to me for more information.  https://www.nashvillerealestatenow.com/property-search/detail/38/2571539/5919-old-harding-pike-nashville-tn-37205/

NEW CONSTRUCTION < $400,000:  https://www.nashvillerealestatenow.com/property-search/results/?searchtype=2&searchid=1561734

> 10% PRICE DROPS:  https://www.nashvillerealestatenow.com/property-search/results/?searchtype=2&searchid=1561746

LUXURY HOMES:  https://www.nashvillerealestatenow.com/property-search/results/?searchtype=2&searchid=13146


MONEY

Rates Up After PPI Shows Higher Inflation: https://www.mortgagenewsdaily.com/markets/mortgage-rates-02162024

Japan and the UK are in a Recession: Are We Next?:  https://www.cnn.com/2024/02/16/economy/japan-uk-us-recession-explainer/index.html


MY THOUGHTS

Most experts expect us to enter a recession sometime during 2024, and this has many in the housing market scared.  I see it as a good thing, as it will force the Federal Reserve to lower the Federal Funds Rate to stimulate the economy.  This typically has a similar effect on mortgage rates.  Housing is the biggest engine in our economy and accounts for 20% of the GDP, so it's the easiest way for the FED to throw water or gas on the fire.

Now if you're worrying about home prices...don't be too concerned.  In 5 of the last 6 recessions, home prices have risen or held steady.  The only time prices have dropped in the last 50 years was during the Great Recession.  That was a worldwide, catastrophic financial market meltdown.  History tells us only to expect those once every century or so.  I wouldn't expect that this year, but what do I know? 

The end result of the Fed lowering rates by one percent or more will likely be higher activity, higher prices, and lower rates.  I would not expect a dramatic drop in rates by the FED until our GDP starts shrinking.  I'll keep my eyes on this for you.

What do you think will happen this year?  Text me and let me know: 615.257.9996. 

Nashville Housing List

Post a Comment