Economic News For Houston First Time Home Buyers

,Although it is not where it was three years ago before the pandemic, inflation is finally heading in the right direction...down. Before the Pandemic, inflation was 2.1%, now at 7.1% home buyers, sellers, and just about everyone can begin to breath a slight sign of relief.

If you remember back in June when inflation reached it's peak of 9.1%, consumer prices were increasing by the minute. Or so it seemed. Many home buyers were priced out of the market.

Now, you may notice that prices are softening significantly on a month-to-month basis. Home, gasoline, utility, medical care and use-car prices are all falling. A bit.

As for home prices, yes, prices are falling, though, not fast or low enough yet, but they are falling. Now, we wait and see what the Federal Reserve is going to do with the next rate increase.

The current consensus is that it will be a smaller rate increase as they continue to force down the still high inflation. Seven percent is not great, but, it's better than 9%. As always, thank you so much for stopping by. Until next time...Diana

Image: Created by Diana for First Home Houston