09/09/2024
Happy Monday! The real estate market has shifted with a big amount of buyers holding off on buying....for the time being (may change in a matter of a week).
Curious to know thoughts on the main reasons you would be holding off from buying right now? Is it interest rates, the election, recession?
The Fed chair Jerome Powell has said there are plans to lower interest rates which are expected this month. The committee is meeting Sept 17th/18th to drop it. The August jobs report came out on Friday a bit shorter than expected but unemployment still dropped 1/10th% to 4.2%.
GDP showed a 1.4% increase Q1 and 3% Q2
The US is still underbuilt 4-7M homes with buyer demand still at an all time high. A limited supply with a high demand means higher prices and more competition when going to buy.
Of course nobody can predict the future but I have a feeling we may see home values continue to increase in the future given the supply & demand.
