Let's dive into what's happening and how it might impact your buying or selling plans this season!
Mortgage Rates & Job Market:
High mortgage rates and a sluggish job market are still impacting the Austin market. But there’s hope! The Fed is expected to start easing rates this fall, bringing some much-needed relief. 💸 While rates may improve, the job market could take longer to bounce back. ⏳
🏠 Price Stability:
Good news for homeowners! YOY price drops are minimal, signaling a stabilizing market. 🏡 We might finish the year with flat appreciation or depreciation. 🚶♂️
🍂 Seasonal Slowdown:
As we head into fall and winter, expect the usual market cool-down. 🧊 This trend will likely continue until Q1 2025.
🗳️ Election Year Impact:
Election years tend to slow the market, and 2024 is no different. 🤷♂️ Buyers and sellers are waiting to see what happens before making moves.
📊 Pent-Up Demand:
Despite the slowdown, pent-up demand is building. ⚡ We expect a stronger market once we’re through the current economic cycle. 🚀
🤔 For Buyers:
2024 has been tough for buyers with high mortgage rates, but the Fed may offer relief soon. Use this slow market to your advantage and negotiate better deals! 💪 With pent-up demand brewing, getting in now could put you ahead of the rebound. 🏃♀️
🏡 For Sellers:
The market may be slower, but selling is still possible. Price competitively and make your property stand out! 🌟 With fewer buyers, patience and preparation are key to success. ⌛
Ready to make your next move? Whether you're buying or selling, let's strategize your best options! 📞🤝
