This week, the Federal Reserve took bold action by cutting the federal funds rate by 50 basis points, giving both buyers and sellers a reason to pay attention 👀. If you’ve been on the fence about your next real estate move, here’s what you need to know.
🏘️ More Homes, Better Rates = Buyer Opportunity 💡
Buyers, this is your moment! There’s 44% more inventory on the market compared to this time last year, giving you a wider selection of homes to choose from 🏠. On top of that, mortgage rates have dropped to their lowest levels since early 2023, making financing much more affordable. That said, despite these advantages, 13% fewer contracts were signed this month. This could mean many are waiting for the "perfect" time to jump in — but with rates this low, the opportunity might be better than you think 🤔.
🏠 What Sellers Should Expect 🔑
For sellers, the increased inventory means more competition. You might be seeing fewer showings per listing — last week, we averaged 1.07 showings, which is down 39% from last year. However, with better mortgage rates, buyers now have more flexibility with their budgets, which could help homes move faster as we enter the end of the year 🍂.
🔄 The Market at a Crossroads 🌐
We’re in an interesting time where seasonality and economic factors are intersecting. September often sees a slowdown, but with improved mortgage conditions, we could be on the verge of renewed activity. Whether you’re buying or selling, now’s the time to evaluate your options and make informed decisions. The market is changing, and being prepared will give you the advantage ⚖️.
📞 Let’s Chat! If you want to explore how these changes impact your personal real estate goals, I’m here to help!
🔗 Contact Nicole Strom Today
📱 Phone: 719-922-0102
📧 Email: [email protected]
🌐 Website: www.NicoleStromRealtor.com
📱 Instagram: @nicole_strom_realtor
📱 Facebook: Colorado Springs REALTOR Military
📱 Twitter: @nicolestrom3
📱 YouTube: Nicole Strom Real Estate Channel
About the Author
Nicole Strom
Nicole is a mom, grandma, a retired military spouse of over 25 years, as well as a full time Real Estate Professional serving her clients in and around Colorado Springs.
You need a REALTOR® with vast experience and knowledge of our specific market. You need a REALTOR® that genuinely cares about you and puts your needs first. You need a REALTOR® you can trust. Nicole is that REALTOR®.
