Stay informed on the latest inflation report and how it affects home buyers and owners. Plus, get valuable home selling tips and insight on the Raleigh real estate market for 2024. Don't miss out on understanding the impact of interest rates on the housing market!

Watch Full Youtube Video Here

🔻DESCRIPTION🔻

The latest inflation report came out in January, so let's break it down. Despite coming in slightly higher than anticipated, the 3.1 percent year-over-year figure represents a decrease from the previous month's 3.4 percent. However, this still surpassed expectations, which were pegged at 2.9%. We can expect to see an uptick in mortgage rates as a result of the inflation report, potentially postponing anticipated rate cuts slated for May. This delay, in turn, could push rate cuts beyond July.

Shifting gears, let's talk about the real estate landscape, particularly the surge in new home listings compared to last year. This increase, which is 17 percent higher than January 2020 figures, underscores a notable trend in the market. More than half of these listings are new construction, a stark difference from previous years' percentages. This shift has changed buyer expectations, who now demand more move-in ready homes akin to new constructions. Because of this change in expectations, we strongly urge sellers to invest in upgrading their properties to align with these evolving buyer preferences.

Looking ahead, we expect a potential downward trend in the third quarter. With the increase in costs of living and despite the higher interest rates, people will start to reevaluate their home buying decisions. We anticipate a growing willingness among buyers and sellers to start entering the market at a higher rate.

If you've found this informative please like, and subscribe to, our YouTube channel. This helps the Google algorithms know that this is useful information. Also feel free to comment and poke holes in our theories. We'd love to talk to you!

Watch Full Youtube Video Here