Let’s get together and talk!
“Someone you care about will be selling their home soon. Please pass this along, I’d be glad to sit down and talk with them…”
Todd
Office: (814) 231 – 8200 ext. 355
Cell: (814) 880 – 4427
toddcostello@remax.net
Market Data
This data is based on information from the Centre County Association of REALTORS® MLS for the period indicated. Totals include all existing single family residential properties located in the following school districts: SCASD, BEASD, BASD, PVSD as of the first business day of each month.
1. 2022….Here we go…Ready, Set, Real Estate!
2021 was another steady year for Centre County Home Sales. Demand was elevated for the entire year. See the last 5 years of Demand Trends HERE. This graphic shows a fairly dramatic increase in Demand Rates(ratio of buyers to sellers).
What to look for in the first quarter of 2022….
I will be looking at the Active Listing #’s and Demand Rates as they compare to the previous month and year(see above).
There are 47% fewer properties on the market now versus this time last year. Inventory can catch up in a hurry, so this is the main number to keep an eye on over the next 30/60/90 days.
2. Variables….there are always variables.
A. Covid…
Who really knows what direction this will take and What affect it could have on the Residential Real Estate Market?
B. Mortgage Rates…
It seems that interest rates will finally begin to rise?
Does that increase buyer activity, hoping to lock in a low rate before rates go even higher?
Does it diminish buyer activity, as all rates will go up. Meaning Auto loans, credit card rates etc…leaving folks with less to spend on housing?
C. Inflation….
If everything costs more? How will that effect buyers?
3. Guidance going forward…if Real Estate Action is for you in 2022
A. Do not get caught up in the “noise” of all the variables. If you have a goal with a plan and steady income, keep moving forward.
B. Mortgage Rates: People have never stopped buying homes. Never! I know you are never supposed to say never, yet…the average 30 year mortgage rate was 18.63% in October 1981….homes were sold and purchased.
As I have said before…I purchased my first home with a 9% interest rate, because that is what the rate was at the time. Loved my first home.
C. Inflation……
See section 2C above.
4. Everything’s Gonna Be Alright….
This song says pretty much, everything that needs to be said. I think the fear mentioned in this months quote, is often generated from and directed inward. Therefore we are often cruel to ourselves.
Let’s see if we can take a break from the fear in 2022 and be kind to ourselves and each other. Everything’s gonna be alright!
The Winners…
This Month’s winners of a $50 State Theatre Gift Card are Debra Daggs and Timothy Dunleavy… Congratulations!!
This Month’s Prize….
2 winners will each receive a $50 Facia Luna Gift Card.
*Odds of winning 1 in 500
“It was one of those March days when the sun shines hot and the wind blows cold: when it is summer in the light, and winter in the shade.”
– Charles Dickens
Todd is honest, hard working, dependable, fiercely intelligent, and extremely knowledgeable of the residential real estate business.
I trust Todd’s professional expertise, experience and thorough knowledge of the State College real estate market when buying or selling. I wouldn’t use any other real estate agent.
You’re so good at keeping in touch, Todd.
Thanks!
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