In much anticipated news, the Federal reserve had a meeting yesterday Friday August 26th to determine monetary policy and provide a sense of direction where the economy is heading. Fed Reserve chairman Powell has made it very clear that his main goal is to crush inflation at any cost. What is this mean for the average consumer? In short term, it will be difficult since rates rising means higher cost to borrow such as interest rate for homes, automobiles etc
In the longer term by combating inflation and bringing it to a halt, this will make a stronger economy in long term since price stability is essential for healthy economy. In essence, the chairman wants to bring a more harmonious balance between supply and demand.
Increased rates will be bring more inventory of homes in the market so this should be good news for potential Buyers who were sitting on sideline but rates are going to be a bit higher which makes of a tricky situation. However, things will eventually get balanced out since it will bring Buyers and sellers to the negotiating table and negotiate on equal footing. We have noticed similar trend in past 4 weeks where Buyers are now able to negotiate concessions, price reductions etc
To quote the famous Avengers movie from Disney Marvel “Perfectly balanced, as all things should be”
Below you will find the most recent data for Orlando inventory market.
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