Anyone else have a slow February? I’m in Washington State.
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Yes, only because I don’t do refi’s/purchases for $90 or $100
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Slightly, but It’s like this at the beggining of the year.
Very slow for me… I reject anything less than $100
I don’t buy the sentence “anything helps and build up”…gasoline is $5 per gallon in my area, so how low can a person go in order to accept an offer?
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Also in Washington, Pierce County, we have had 5 signings since the first of the year. The slowdown is brutal. Looking to branch out into other work because it’s not picking up at all in March so far.
Unfortunately, this topic has become like “beating a dead horse.” Business is slow because interest rates are high. It has nothing to do with the month, day or year (as most banks have monthly/quarterly sales goals). 4-4.5% may not seem high to some, but most cashed in when the rates were in the 2 percentage point rate, while others missed the ride and are “hoping” they will drop again. As a result of the low rate buy in, housing inventory is way down as well (unless they build new). Rates go up and down daily just like the stock market, but they are only projected to go up over time. Yes this may be area specific, but overall effects all nation-wide. I learned when the stock market is doing poorly (like now) people sell their stocks and reinvest in property. This in turn raises housing demand and effects the interest rates. I don’t have it all quite figured out yet, but I think the “slow business” is here for the long haul, as the mass business we experienced in the last couple of years was due to interest rates being at historical lows.
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Truth! As happens with many other topics that are asked over and over and over again. Hence our constant referrals to everyone to the “search” feature.
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I agree with you on “beating a dead horse.” It’s really become so. But, you know, slow business is actually a good opportunity to focus on your business goals and values. What do you think?
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