Uncertainty everywhere: the ups and downs of real estate
It’s an election year, after a once-in-a-century pandemic, and the country has an uncertain future; for many of us, it feels like its own existence is hanging in the balance.
With so much uncertainty in the air, few people would think of real estate at this moment, right? Perhaps. But for a large group of buyers and sellers actually entering the market now, after waiting years for rates to fall, it seems as good a time as any to join the froth of a bubbling market.
To be clear, the frothiness is not felt everywhere, nor for every type of home, so once again, uncertainty seems to be the word of the day and the overall mood in the air.
Sept. 19, 2024 was a date that sellers, buyers and most of all Realtors had circled on their calendars, waiting with breathless anticipation as the promise of a Federal Reserve cut in the overnight lending rate (the “prime” rate) was all but promised by chairman Jerome Powell in the preceding weeks and months.
