The FOMC meeting notes from January were released this week showing Fed officials have confirmed that rate cuts are not in their immediate plans. As we enter a period of watchful waiting, when are economists now predicting we will see downward rate movement? How many rate cuts are predicted for 2024?
February has proven challenging for bond yields, commencing with a robust employment report that triggered a sell-off. Subsequently, this week, the market experienced substantial positive surprises in both consumer and producer inflation reports. Although this week’s consumer inflation release is not the Federal Reserve’s preferred index, it still induces volatile swings.
Despite economic data not universally surpassing expectations, notably with Retail Sales, indications suggest that rate hikes are impacting the economy. With that said, the economy is certainly proving to be resilient. The recent data does not alter expectations for the March Federal Reserve meeting, as that was already ruled out.
Financial markets are now grappling with reconciling their expectations for mid-year rate cuts, in contrast to the Federal Reserve’s stance of not anticipating any adjustments until later in the year. The upcoming week is characterized by a lighter economic data schedule.
Find out in this week’s Market Update via phone text email or go to
https://www.countyproperties.us/mortgage-information or https://www.countyproperties.us/home-valuation
As a professional real estate broker in San Diego, I have seen firsthand how the market can fluctuate. In recent years, we have seen a hot market with high demand and low supply. This has made it difficult for buyers to find homes and has driven up prices. However, there are still ways to engage buyers and sellers in this market.
For buyers, the most important thing is to be prepared. This means getting pre-approved for a mortgage, knowing what you can afford, and being ready to act quickly when you find a home you love. It is also important to be flexible with your search criteria. If you are willing to consider different neighborhoods or types of homes, you will have more options to choose from.
For sellers, the most important thing is to price your home competitively. In a hot market, it is tempting to overprice your home, but this can actually backfire. If your home is priced too high, it will sit on the market and buyers will start to wonder what is wrong with it. It is also important to make sure your home is in good condition and shows well. This means decluttering, making any necessary repairs, and staging your home to appeal to buyers.
If you are a buyer or seller in the San Diego real estate market, I encourage you to contact me. I can help you navigate the market and find the best possible deal on your home.
Here are some additional tips for engaging buyers and sellers in the San Diego real estate market: