Graham Stephan shares his thoughts about the Federal Reserve September 2024 Rate Cut
Graham’s view on HOUSING PRICES: The good news – for buyers – is that prices are starting to get cut. A recent report found that “The share of available listings that saw a price cut in July rose to 18.9%, causing the median price to fall from $445,000 to $439,000.” Realtor dot com says there are two reasons for this: First, interest rates remain higher than expected (which means less buyer activity) and, two, a lot of would-be buyers are holding out for lower mortgage rates in the future – so, sellers are reducing their prices to entice them back.