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10
National and Local Outlook on Inflation and House Prices
Brian Sullivan, Senior National Correspondent and News Anchor of CNBC's 'Worldwide Exchange', recorded a segment in the Quad Cities earlier this month that included insights from local businesses around our area on how the Midwest is dealing with inflation, mortgage rates, home appreciation, and the housing supply and demand. Brian sits down with John Anderson of Quad Cities Bank and Trust, Tim Baldwin, Co-Owner of Front Street Brewery, and Ruhl&Ruhl's very own Chris Beason to better understand how inflation affects everything from the cost of beer to lumber and supplies for new construction.
"We are very fortunate here in the Midwest to be lagging in some of the national trends. We never had as much of a fluxation as some of the more populated areas and on the coast, it's a little more slow and steady here. We certainly still have the same challenges that other parts of the country are having, but not as severe," noted Beason.
In fact, our region has seen a five-year home appreciation between 23.45%-28.98%, while nationally the average has been approximately 60%. Chris also adds that although the housing market is still very much so a seller's market, he thinks a shift is needed soon, " it's going to be a great thing if we get back to 2018/ 2019 numbers, which was much more normalized."
Reach out to your Realtor for more information and to get their professional take on why selling and buying a home in today's market is still a good 'move!'
