The Federal Reserve had its press conference this afternoon.
In the press conference, Powell said, this is the first time they have seen the disinflationary process has started.
As expected, they did raise the Fed Funds rate today by another 25 basis points. They are still trying to drive inflation down to the 2% level.
Importantly, Powell believes that they can drive down inflation without a major recession in the economy or the US job market.
In DFW, we have seen real estate prices cool off and mortgage rates have also continued to drop steadily. With these changes being seen in the housing market, buyer demand has come back from its lows in October/November.
If the economic trends continue this way, I do see an active, yet much more stable, spring/summer buying and selling season ahead.
We’re seeing multiple offers still in the lower price points ($400,000 and under) around DFW. That being said, these are not multiple offers way over the list price like they were over the last two years.
If you have questions about the value of your home and potentially making a move, reach out to me and we can talk through all of those details at your convenience.
I appreciate so many of you reaching out and trusting me with your business over the last several years. I hope y’all are staying safe and warm with this recent cold snap.
Have a great rest of your week end enjoy the thaw!
-Josiah
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