New Year, New Me

butterknife welcomes you to 2023.

As far as real estate and housing went, I can't say we had the best time in 2022, and I'm sure many of you would agree. In fact, the latter half of the year felt a lot like this:

All that aside, we're kicking off a new year and hoping for the best.

• Average 30-year mortgage interest rates return to what HousingWire's Logan Mohtashami calls "healthy": 5.375%-5.75%.

• Existing home inventory begins to rise and continues to do so throughout the year. Look, we can't bet on a miracle here, but as long as line go up, we'll be happy.

• Inflation cools to a more managable level in response to the Fed's aggresive rate hikes, without tipping our economy into a full-blown recession.

That last one might be a long shot, but as long as we get one of the items on our list we'll be happy.

The Week Ahead | January 1, 2023

Onto the agenda for the week:

• This Monday, like last week's, is a federal holiday. So with the exception of some vanishingly improbable event (the outbreak of a global pandemic or a war in Europe, for example), it'll be a slow news day.

• On Tuesday, nothing of major interest.

• On Wednesday, there will be no MBA release due to the holiday, but we will get three major economic reports:

  • First, the we'll get a look at the latest release of global manufacturing PMI; a leading economic indicator that has been trending downwards of late.

  • Second, the JOLTS report courtesy of the BLS, an estimate of the US payroll and unemployment situation.

  • Finally, we will get the dreaded FOMC minutes (may Powell have mercy.)

• Thursday brings the release of initial jobless claims, another finger on the pulse of the unemployment situation.

• Friday bids farewell to the week with yet another employment-related release -- non-farm payrolls + non-manufacturing PMI.

Some Final Notes

butterknife will be closed tomorrow — so no daily update. We'll be back on Tuesday to give you the latest in real estate news, and onward throughout the week. 

Oh, and one more thing:

If you're reading this, it's because you're one of our first 100 subscribers. Isn't that incredible? Thanks for coming along for the ride, and we hope today's issue was entertaining and informative (if it wasn't, feel free to send us a nasty e-mail.)

But if it was, could you do us a favor? We'd really appreciate it if you forwarded this issue to one of your colleagues or friends who are interested in real estate, and encouraged them to subscribe. It's totally free, what have you got to lose?

Until tomorrow,

the butterknife team.