November 7, 2023 | Driving It Home with ABoR's Housing Economist

In this episode, ABoR CMO Kelea Youngblood and Dr. Clare Losey discuss the Federal Reserve's decision to not raise the federal funds rate, which is currently between 5.25% and 5.5%. Dr. Losey notes that the market responded positively to this news, which was also reflected in the declining ten-year Treasury yield. The implication is that mortgage rates might not rise significantly and may have already peaked, with a slight decline from 7.79% to 7.76% observed recently. They also touch upon the weekly real estate stats, indicating a 20% increase in closed sales and a 15% increase in new listings, while closed leases remained flat and new lease listings decreased by 13%. Looking ahead, they don't anticipate significant shifts in market stats from September to October. Don't forget to access your FREE Austin Business Journal subscription! Tap into this benefit exclusive for ABoR members and use it as a resource for lead generation and market insights. *Links mentioned in this episode:* Access your FREE ABJ Subscription: https://www.abor.com/abj ABoR Market Statistics: https://www.abor.com/marketstatistics Download the Audio Transcript + Episode Summary: https://www.abor.com/content/uploads/2023/11/DIH-11-7-23.pdf Connect with us on socials: https://www.abor.com/socials Connect with Dr. Clare Losey on LinkedIn: https://www.linkedin.com/in/clare-losey Have feedback? Email us at [email protected].