The latest economic and housing data suggests that home sales will continue to move along at a slow pace as Buyers and Sellers wait for more certainty. Inflation remains a concern even as the Federal Reserve continues to hold rates steady. And as 30 year fixed-rate mortgages ticked down this week, so did mortgage applications. Fewer pending sales also point to waning demand. Home price growth continues to soften, but a big drop is unlikely due to broader market conditions. Despite a key interest rate decision and the release of several economic and housing reports, the market seems unlikely to pick up momentum anytime soon.
Fridrich & Clark Realty, LLC