Title: National Cheeseburger Day and Real Estate Updates! Hey REJD fam! Ed Parcaut here from the Real Estate Jerky Daily, with some exciting updates for you today. But first, did you know that it's National Cheeseburger Day? 🍔 If you're looking for a tasty lunch deal, head out to your favorite local restaurants or fast food joints, because they're serving up some amazing cheeseburger specials. From Wendy's offering their Junior Bacon Cheeseburger for just one cent, to McDonald's cheeseburgers for only 50 cents, there's something for everyone! Now, let's dive into some real estate news. 🏡 Ed shares that housing inventory has seen a slight increase recently, but it's still significantly lower than usual. This low inventory is contributing to the continued rise in home prices. So, if you're thinking about buying a home, now might be a good time to jump in and secure a property before prices climb even higher. Ed also mentions that first-time home buyers have been canceling contracts more frequently. However, this hasn't affected the market significantly, as other buyers are stepping in to pick up the available properties. In fact, mortgage applications for new constructions have seen a 4% increase in August compared to July, indicating a healthy demand in the market. To add to the mix, Ed shares some interesting loan statistics. Conventional loans are becoming more popular, making up 65% of loan applications. FHA loans account for 23%, while VA loans make up 10%. These numbers give us a glimpse into the current trends and preferences of homebuyers. On the flip side, the NAHB Home Builder Confidence index recently declined due to rising mortgage rates, high construction costs, the lack of construction workers, and the scarcity of buildable lots. These are the challenges faced by the industry, particularly in places like California where the demand for new homes is high. Lastly, Ed gives us a heads up about the upcoming Federal Reserve meeting on Wednesday. The decision on whether to raise short-term interest rates or keep them the same will greatly impact the market. So, keep an eye out for the outcome and how it might affect the real estate landscape. That's it for today, folks! Thanks for tuning in, and don't forget to enjoy a scrumptious cheeseburger in celebration of National Cheeseburger Day. If you have any real estate-related questions or want to know more about a specific topic, leave a comment and we'll be sure to address it in our next podcast episode. Until then, have a fantastic day! 👋🏼✨ #RealEstateJerky #NationalCheeseburgerDay #HousingMarketUpdates #HomeBuyingTips#RealEstateJerkyDaily #MarketUpdateMonday #HousingInventory #HomeBuilderConfidence #InterestRates #FederalReserve #RealEstateNews #MortgageApplications #NewHomeSales