More good news for the future of the real estate market! First, inflation hit 3% in June. We are not far off from the FED’s goal of 2% and indicators show this downward trend in inflation will continue. So have we seen the end of rate hikes? Will this downward momentum push us beyond the FED’s goal and force them to drop rates? Many experts, including former Mortgage Brokers Association CEO, David Stevens, believe it will. In every corrective action the FED has taken on record dating back to the 1960s the FED has over shot its goal resulting in minor recessions and rate reductions. Expect rates to drop in 2024 & 2025.
Additionally we have the largest population of home buyers in our nations history, plus over 4 million renters earning 150k or more annually and growing amounts of pent up sellers whose current homes won’t work for them much longer. If rates come down, they will enter the market. As a result, we are looking at several more good years for real estate in '24 & '25. Stevens says, “This nation is standing at the doorstep of the largest home buying demand in U.S. history.”
The question is will you be ready? Many are understandably burnt out from the challenges of the current market, however if you’re focused on growth now is the time to push through and take action. Use this positive news as new motivation. Set a goal to build your sphere by 5 people a week for the remaining 23 weeks in the year. Come next spring you’ll be glad you did. If you want proven methods to get prepared so you don’t miss these up coming market opportunities send me a message.
Keep elevating our industry.
For more from David Stevens, watch Brian Buffini’s Mid-Year 2023 Bold Predictions
Watch the Video: https://youtu.be/9NI5YInujQs
David Veldkamp
Owner | RE/MAX GR
Mobile: 616.460.6123
Office: 616.957.0700
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