Desert Sun 12/9/22

What to Expect In The Desert Real Estate Market This Season

Over the past 2 years, the real estate market has been routinely positioned as “unprecedented” – and for good reason. Stoked by low interest rates and a shift in remote work and other pandemicera trends that created stronger demand for suburban communities, shrinking levels of inventory were being frenetically snapped up by home buyers and investors at never-beforeseen rates. This activity pushed up prices and created extreme conditions across the country. Starting in the spring of this year, rising interest rates cooled the economy and the housing market, slowing sales activity. The overall direction and velocity of the market is now on this new path, creating some uncertainty for both buyers and sellers. To help prime you for another unprecedented market ahead, we put together an examination of desert real estate market data from the past several years to identify what’s happening and where things could be headed next.

Uncharted Territory

Early on, many in the industry were comparing the fall 2022 real estate market to the same period of 2019 because it was the last “normal” market. However, after looking at the numbers and patterns, there are some major di erences between now and then. The days on market (sale pace), median active price, and median sold price all indicate a much slower market in 2022 than in 2019. Even pushing out the scope of our comparison to 2017, we see that inventory is going on a steady, measured descent in overall direction 5 years and 4 years ago, respectively, with healthy seasonal cycles of activity and obvious shapes to the market’s path. This general trendline is common until we get into the spring 2020 market when things really take o , causing severe market conditions. In contrast, the 2022 trend line shows a di erent direction, with inventory up, activity down, and a flatter pace of homes hitting the market. So, what does this mean? We are in uncharted territory for the third straight year. There are many factors, including higher interest rates stifling demand, an uncertain economic picture, and an overall malaise over the market. As a result, inventory is rising, prices are on stable footing, but there are some potential cracks showing as activity continues to stay low.

Prices Are Stable – For Now

Climbing inventory should have an impact on home prices, but so far there

hasn’t been a discernible change in price direction. Sure, the rate of price growth has been slowing over the last couple months and returning to traditional levels, but we are seeing very healthy prices due to below average levels of inventory.

Also factored in is a slowing rate of inventory. Homes aren’t being listed as frequently as in past years, with a 46% decline in new listings this November compared to 2017. The key question here is how long will this continue, and what will its impact be on the market?

Understanding why inventory is rising, which is due to slowing demand, makes it easier to see how price growth is heading toward a plateau or even slight regression in the coming months. Looking at this in greater context is equally as important. The average sale price is up by almost 84% compared to 2017, nearly 23% compared to 2020, and 8.25% over last year. Homes are still selling for historic highs, which is feeding the activity slowdown. We could see a more sustained price correction in the coming months as sellers drop prices with inventory staying on the market longer.

This should be good news to both buyers and sellers as it will create opportunities for all parties looking to make their move. Anyone who is going to be listing a property for sale needs to be realistic with the state of the market. Working with a local real estate expert will help you determine the best pricing and marketing strategies for your home.

The Impact of Rising Interest Rates on Demand

In addition to rising inventory and slowing listing rates, there is less activity in the market. A big factor is the impact rising interest rates have on the buyer pool. Historically low interest rates were a key part of stoking the recent housing market run. With rates now nearly triple what they were two years ago, there’s a segment of prospective buyers who are waiting to act.

Buyers financing their home purchase should consider exploring a loan buydown option. This tactic allows loan basis points to be bought out for the first part of the loan agreement, which lowers the monthly payment and buys some time until rates can come down. Speak with your real estate professional or loan officer for more details and to get advice for your situation.

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Classic holiday napkins never go out of style. Made of linen and cotton. $49-$109 for a set of six at frontgate.com.

Set the table

Elevate your holiday tablescape

USA TODAY NETWORK

Get festive with plates, platters, glassware and more this holiday season.

This cheery Hanukkah table runner can be personalized. $59.50 at grandinroad.com.

AT RIGHT: These Holiday Skier stoneware salad plates are as durable as they are charming. Sold in sets of four and eight. $60-$120 at West Elm.

Sentiment stoneware mugs are microwavable and dishwasher safe. $59 for a set of four at Pottery Barn.

Snowflake designs adorn the Dover Holiday oval platter. It’s made of glazed stoneware. $59.95 at Crate & Barrel.

These Reindeer & Sleigh napkin rings double as a place card holder. $119 for a set of four at ballarddesigns.com.

Sur La Table’s colorful Hanukkah round serving platter is made of earthenware and is microwave- and dishwashersafe. $35 at Sur La Table.

Toast to the holidays with Peppermint Swirl double Old Fashioned-glasses. $13.98 for a set of two at World Market.

Decorated with vibrant accents, Woodland Berry dinner plates are made of durable glazed porcelain. $17.95-$69.95 at Williams Sonoma.

Christmas decoration ideas to make your holidays merry and bright

Kirby Adams Louisville Courier Journal

LOUISVILLE, Ky. – From trimming the tree to adorning the mantel and setting a festive table, when it comes to creating winter cheer, there’s no wrong way to decorate for the holidays. Still, a sprinkle of festive inspiration from those who decorate as a profession can definitely add extra joy to your holiday home style.

We talked with Louisville designer Mark Eliason, owner of Mark Eliason Interiors in Louisville, Ky., for insights into the best and easiest ways to update traditional holiday trimmings. The 30-plus-year interior design veteran not only decks out his own home eachholidayseason,buthealsoworks his magic in the homes of clients.

“Your home should feel unique and special during this time of the year,” Eliason said. “Some people just want a fabulous tree, others want to decorate multiple rooms. Some even want their bedrooms decorated for the holidays.”

Eliason and his husband, Jeff Howard, met us at Dillard’s Homestore in Mall St. Matthews to point out this year’s fresh new color combinations, rich and luxurious textures to use throughout the home, a few modern updates to Christmas figurines, and a glittery retro look that made us all say “ahh.”

Whether you want to start from scratch or simply add some of these trends to holiday items you already own, here are 10 tips from the pros to add twinkle and pizzazz to your holiday home.

What’s the best way to wrap Christmas lights around your tree?

“When you start to decorate for the holidays, your tree is a good place to start,” Eliason said. The designer

Setting a beautiful dining table is a popular trend during the holidays.

Mark Eliason, of Mark Eliason Interiors, is a holiday expert.

Lush velvet is a top trend for Christmas decor in 2022. PHOTOS BY MICHAEL CLEVENGER/ COURIER JOURNAL

PHOTOS BY MICHAEL CLEVENGER/COURIER JOURNAL

starts by wrapping lights near the trunk of the tree and works outward. The more lights the better and he likes warm white Christmas tree lights but also big bright retro bulbs popular in the 1960s.

“Really it should be fun and you want to feel comfortable with how you’ve decorated so go with what you really like,” he said.

As a general rule of thumb, use about 100 bulbs for every 2 feet of your Christmas tree. So for a 6-foot tree, you’d need 300 bulbs. Use the plug as the starting point, wrapping the lights around your Christmas tree’s trunk, working your way up from the center of the base of your tree. Continue wrapping the lights evenly around the branches nearest to the trunk, and then weave them upward from the middle of the crown. When you get to the top, start weaving your way back down.

“You can’t go wrong with lots and lots of lights,” the designer said. “Once they are in place, start filling in with garland and ornaments. If your tree is sparse and you want to add fullness, tree picks or floral sprays are decorated branches of twigs, berries, decorative balls, or leaves you can place into empty spaces.”

Sprays are a subtle accent that not only adds dimension to your Christmas tree but also adds a splash of color and texture. If you buy too many, they are great to add to wreaths and garlands.

What are the Christmas tree decoration color trends for 2022?

This is a year to think outside the traditional red, green, and white Christmas color palette.

“We are going to see a bunch of beau-

tiful colors this season,” Eliason said. “Think bright and happy. It’s a great season for those who just love to embrace color. It’s a whole new level of color this year and I absolutely love it.”

This vibrant trend is a rainbow of peppy hues like hot pink, lime green, aquamarine blue, sunshine yellow, and bright purple. These festive colors will really pop on any Christmas tree but especially artificial trees in white and pink.

And why stop at the tree when you can fill a room with colorful good cheer? The bright colors of Christmas 2022 are showing up as ornaments, garlands, ribbons, and figurines.

Christmas decorations ideas for retro, vintage ornaments

Even if you are too young to remember your grandparents’ collection of shiny and brightly colored (and super fragile) ornaments, you may recognize them from movies like “A Christmas Story.” The magical prisms of sky blue, bright pink, cherry apple red, and silver are back in vogue and as breakable as ever. (Who cares if a few shards of these delicate beauties end up under the tree? They are so much fun to look at.)

If you are into the vintage and retro feel,don’tstopwiththetree.Thenostalgialoverwillfindstoresin2022carrying plenty of items reminiscent of the

knickknacks in Aunt Mary’s rumpus room.

Suddenly back in style and back on the shelves are Mr. Christmas products, which come in assorted sizes. Establishedin1933,theplug-inceramictreeis sure to be a hot seller this season.

How to decorate your Christmas tree with emerald and gold accents

Also trending for the 2022 holiday season is an emerald and gold color combination.

“When you think emerald, think RalphLauren.It’saverybrightbeautiful emerald green and we’re seeing it combined with gold in ornaments and placed together on holiday tables,” the designers said. A rich blue and gold combination is also on trend in 2022.

To get the look, add a dozen or so emerald or blue ornaments to your tree with some gold ribbon or spray accents and you’ll have an eye-catching focal point.

Christmas decorations ideas for velvet ornaments, figurines

Luxury fabrics are also in style this year.

“Not only have we seen velvet hit the design industry with pillows and furniture, but it’s also hitting Christmas in a

big way too,” said Eliason.

From velvet ornaments, reindeer figurines, and ribbons, this soft accent is an easy addition to your existing decor. Velvet will add texture and elegance to any holiday look said Eliason.

“By adding a velvet plaid garland to your Christmas tree you’ve immediately elevated the look,” he said.

Christmas decorations ideas with rose gold, silver, brass and more

We all love a tree that shines and sparkles and to that end, gold and silver will always be on point.

Forhisowntree,Eliasonchoosesmetallic ornaments and ribbons in shades of rose gold, gun metal, pewter, onyx, and brass. These new metallic colors help to add more depth to your decor when you add them to your already existing gold and silver.

Just be sure to use multiple shades of metallic if you want to create a look of elegance, richness, and sparkle.

How to decorate for Christmas with sage and gold accents

A hot trending color that looks amazing when combined with blush pink, blue-gray, or gold is sage.

“It’s almost a mint green,” said Eliason. “It’s a beautiful color that is more muted than the traditional green and will give your decor a fresh stamp.”

Adding sage accents to a rich green tree brings out another color dimension and a modern touch. Wispy gold sprays are the perfect pairing with sage ornaments to add a pinch of festive glitter.

Pairing the colors sage and gold is a top decorating trend.

Carry on the green and gold trend with glamorous ornaments for the tree.

A rainbow of color is popular for decorating.

Ideas

How to decorate with neutral, monochromatic colors

While many enjoy the dazzle of the holidays, others prefer a clean, uncluttered look.

If that’s your vibe, you’ll have plenty to choose from on store shelves this year. Eliason is seeing a lot of wood tones, muted colors, and concrete with design textures.

“Neutral doesn’t mean boring, it is a very sophisticated look,” he said. “The ornaments are muted but textured and may look like glazed concrete but are as light as a feather.”

Snow villages, another popular holiday decorating trend, have also adopted a new monochromatic look this holiday season. In 2022 all white tiny snow towns provide a clean and uncluttered fresh look for the holidays.

How to decorate for Christmas with tabletop decorations

It may not be just the Christmas tree and mantel you are decorating this season. Many like to add festive cheer throughout the house.

A fresh take on holiday figurines is a distinctively Scandinavian feel this year. These are simple glass coneshaped trees and they come in various colors and sizes and finishes.

Place a few together as a centerpiece onthetable,abookshelforacoffeetable for an uncluttered yet festive holiday vibe.

Christmas decorations ideas for jingle bells

There will be more than just “Silver Bells,” this year.

“People love to decorate with bells at Christmas and this year you’ll be able to find them in a wider variety of shapes and colors,” Eliason said.

Traditionally, silver Christmas bells are used as ornaments on trees and

wreaths and nestled into garlands on the mantel. For 2022, decorative bells will make an appearance in a more organic brass cowbell shape and in a multitude of sizes.

Whether oversize or miniature, sleek or rustic, collections of like items such as bells or gnomes, or reindeer look best when clumped together. The effect is more textured and robust visually than placing individual items in different areas of the home.

Not every Christmas trend will appeal to your holiday senses. Remember thatthemostspecialaspectsoftheholidays are the traditions and memories you’ve collected throughout a lifetime. Family ornaments, favorite color themes, and treasured mementos are what make the holidays a time of joyous reflection.

But now and then, it’s fun to add a new twist to tradition.

“Whatever your style, you get to choose what style fits you and your family,” said Eliason. “Make it feel like Christmas and the joy that the holiday season brings.”

Reach features reporter Kirby Adams at kadams@courier-journal.com

Simple and elegant figurines inspired by Scandinavian design are popular for the 2022 Christmas holidays. MICHAEL CLEVENGER/COURIER JOURNAL

Neutrals with texture is a clean, not cluttered look.