It’s all speculation, of course – what isn’t these days? – but moderate job growth and a rising unemployment rate coupled with slowing inflation have real estate analysts, home buyers and sellers, and just about everyone else, hoping that the Federal Reserve will actually cut interest rates in their September meeting. Currently, the mortgage rates is 6.78% for 30-year fixed loans.
It certainly won’t happen overnight – expect the initial decline to be modest – but once there are significant decreases, expect more home to come on the market with a corresponding drop in prices.
Maybe.