📊🔥 February 24th Housing Market & Fed Updates You Need to Know! 🏡📊
📊🔥 February 24th Housing Market & Fed Updates You Need to Know! 🏡📊
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Is the housing market heating up again? Bidding wars are popping up in some areas, and home prices remain strong, with the median home price at $396,900—up 4.8% year-over-year despite a slight dip from November.
📊 Key Market Insights:
✔️ First-time homebuyers made up 28% of recent buyers
💰 Cash buyers accounted for 29% of purchases
🏢 Investors made up 17% of transactions
💼 Job Market & Fed Update:
📉 Job growth is slowing, and initial jobless claims rose to 219,000
🏦 The Fed plans to end balance sheet runoff by mid-2025, which means they’ll stop reducing their mortgage-backed securities and Treasury holdings—a positive signal for the bond market and mortgage rates
📈 Home Prices & Market Stability:
🔹 CoreLogic forecasts a 4.5% home price increase in 2024
🔹 Redfin reports a $50 trillion total home value increase nationwide
🔹 Low inventory is leading to more price stability
With changing market conditions, staying informed is key. Thinking about buying or selling? Now’s the time to strategize! 📲
Lending in 49 States 🇺🇸
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