INTRODUCING CLAIRE RICHARD OF PARK CITIES MORTGAGE AND SHARING IMPORTANT INSIGHTS ABOUT INFLATION IN RELATION TO HOME BUYING! According to our 2021 survey, 39% of our followers are looking to purchase a home in the next 1-2 years with 38% of our followers already owning a home. Because of this, we’re so excited to be working with @claire.mortgageconcierge of @parkcitiesmortgage to share tips and tricks on home buying and market trends over the course of the next year. We’re breaking down some important things you need to know about inflation and how it’s affecting our housing market! ABOUT CLAIRE After four years working in private wealth management in New York, Claire returned back to Dallas and entered the mortgage industry. While she may be a millennial, Claire’s business philosophy is old-school and over the past few years she has made a name for herself as one of the best in Dallas and was voted one of DMagazine’s Best Mortgage Professionals! Park Cities Mortgage one of the nation’s best mortgage lenders and Claire is supported by the incredible Dallas team of underwriters, processors and advisors who possess extensive knowledge in the mortgage lending industry. WHY IT’S IMPORTANT The Fed is embarking on a tightening schedule to combat the inflation that we are seeing in the market which means higher interest rates. Does this mean that you should wait to buy? No! Real estate is an inflation proof asset because as inflation rises, so do the property values and as of July the home appreciation outpaced the inflation rate by nearly double! And although rates have risen since the historic lows of the past two years, they are still well under the 40-year average. Fun fact: on a national level, homes have seen a historical appreciation of 4.5%, but as of May 2022, we saw an appreciation of 19.7%! WHAT NOW? After a crazy two years we are finally seeing a normalization to the market. The market has shifted from a total seller’s market to one that is more balanced. We haven’t seen price declines but we have definitely seen a reduction on the number of offers so that has reduced buyers stress. So follow along as we continue to share updates with Claire! #ad