Some markets saw a quick acceleration of market conditions in February as they head into the heart of the spring market, while others were still just waking up from the mid-winter holidays and should see significant acceleration in March. The wild card in coming months is what sustained effects, if any, the Iran war may have on inflation, interest rates, financial markets and consumer confidence. There may be no significant impact at all on housing, unlike the tariff shock which caused an abrupt slowdown in markets across the country last spring. But we live in an incredibly volatile world politically and economically.
The weekly average interest rate was basically flat as of last Thursday, but the daily average rate ticked up 15 basis points (as of Friday) since the war began.
Stock markets have been volatile.
Crude oil prices: This is what terrifies everyone if the war continues and oil prices keep rising, though because the U.S. is a major oil producer, it wouldn't be as terribly affected as many European and Asian countries. Still, the U.S. seeing rapidly increasing gas prices. Note that oil prices are going up and down on an hourly basis.
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