Hello, residents of Raleigh. Today, let’s delve into the recent Raleigh’s December 2023 Housing Data and Statistics. So let’s take a look.
In the ever-evolving market, significant changes have unfolded since our last update, and these changes are going to influence the US economy, shaping the trajectory of monetary policy. As anticipated, the Federal Reserve has chosen to keep rates stable. However, their signal for lower rates in 2024 suggests a departure from the previous trajectory. With a 70% probability of rate cuts as early as March, we are entering a phase of easy money characterized by lower interest rates and increased money supply.
The Federal Reserve, in acknowledging their inclination towards rate cuts, indicates two key components: lower interest rates and money printing. The intricacies of monetary policy involve the digital creation and deletion of money. Quantitative easing, the process of printing money, and quantitative tightening, the process of removing money, play crucial roles in shaping economic conditions.
Historically, the Fed has employed both higher interest rates and quantitative tightening to control inflation. Despite not meeting their 2% inflation target, the Fed seems content with the current trajectory. Variables such as the upcoming election year and the need for the US Treasury to refinance debt are likely influencing factors. In any case, the signal for lower rates and increased money printing in 2024 is clear.
Now, let’s shift our focus to December 2023 Housing Data + Statistics, sourced from the Triangle Multiple Listing Services (TMLS).
Key Highlights:
- December Dynamics: December is known for its unique market dynamics, often experiencing a temporary slowdown before a notable uptick on January 1st. Our website analytics reinforce this trend, indicating a roughly 25% increase in homebuyers searching for homes.
- Buyer Demand Insights: Closed sales witnessed an 18% decrease, signaling a potential slowdown in buyer demand. As we step into January, it will be interesting to observe how this trend unfolds.
- Inventory Trends: Inventory numbers continue to decline, suggesting a continuation of the upward trend in prices in the near term.
Real estate is nuanced, hyper-local, and hyper-situational. Before making any decisions, reach out to us at the Brazoban Realty Group. Our commitment to excellence ensures you’re working with the best agents, providing you with unparalleled insights and service. We don’t just hire agents; we curate exceptional real estate professionals. No newbies.
Thanks for investing your time in reading this update. Wishing you a great weekend ahead!
