This week is bringing the end of 2021. Too much news and heartache about a disease that most of us thought was behind us is again squarely in front of us for 2022. Covid continues, and we continue to adapt.
What is the coming year holding for us? Concerning real estate, the best predictor of a strong market are the interest rates found in the yield of the 10 year Treasury Bond. Back in 1981, when inflation was an issue for our nation the 10 year yield rose to a high of 15.84%. Yesterday, December 27, the rate dropped a tick to 1.48%. A great sign that mortgage rates are going to remain low. (The historical average is 4.30%)
All this information points to another strong year for buyers and sellers.
Low interest rates drive real estate sales.