It’s been a busy week in here, not only have I been hiding in the shadows to avoid some jilted buyer’s agents but the team has also had a slew of sales….about time too.
I have no doubt that your inbox has been filling up this week with agents shouting from the rooftops saying the market has turned due to the recent interest rate cut but easy tiger, we need to see more data before we ring the bell.
It is true that there has been an increase in sales activity in the past week but that’s more of a seasonal factor than a ‘this market has caught fire’ scenario. The rate cut has signalled to buyers that we are likely past the peak of the rate cycle but no-one can deny that a cloud of uncertainty is still hanging in the air (well given that there are flat-earthers living amongst us maybe they can??).
My personal theory on this uncertainty cloud cover is directly related to the White House and no, this isn’t a political note but can we agree that it’s a pretty unpredictable time? This new normal has had financial markets running from one side of the deck to the other and it’s been making many of us feel seasick.
I’m keeping my head well below the parapet this week but before I sign off let me say this…if you are getting calls from sales people pushing you to sell because of the recent LMR changes ignore them. Never before have I seen so many charlatans trying to scare people into selling their homes, fear-based decisions rarely end well…my tip for the week is gather information and make calm informed decisions.
Until next week,
David Murphy