I'm going to be using an image to show where the market currently sits as we head into May's FOMC meeting later today.  Many are expecting the Fed to hold rates steady, but there is a chance for them to lower as well.  Hard data has been holding up well, while soft data like consumer sentiment and confidence has been really poor.  You'll notice, as I've been saying, that inventory has been steadily increasing and providing more shopping opportunities for interested buyers.  Homes that are mispriced are either sitting on the market for long periods, or reducing their prices to garner attention amongst the new competition hitting the market.  
The demand is still there as we continue to see increasing home sales activity moving back to normal levels.  If this activity continues nationally, we should see estimated sales around 900k this year, and then back to over a million in 2026 and 2027.  This would only get us back to NORMAL levels of sales, which is good for everyone.
An interesting surprise would be a drop in rates from the Fed.  This could really get the 10y yield moving, and mortgages rates steadily below 6.5%.  I will be watching this closely.  If that were to happen, it wouldn't be seller competition I'd be worried about.
 

What are you seeing or hearing? I'd love to know paul@guiderealestate.com
Visit www.paulpelettarealtor.com

Stylish. Remodeled. Move-In Ready in! Welcome to your dream home in the heart of Cordova Homes North! This beautifully updated 3-bedroom, 1.5-bathroom gem offers the perfect blend of modern design, everyday comfort, and unbeatable value. Step inside and fall in love with the bright, open-concept living space bathed in natural light. The show-stopping kitchen is brand new and built to impress featuring quartz countertops, sleek cabinetry, matte black hardware, farmhouse sink, stainless steel appliances, and a subway tile backsplash that brings it all together. Luxury vinyl plank flooring runs throughout, creating a seamless, stylish look, while both bathrooms have been fully reimagined with high-end, spa-inspired finishes. Fresh paint, updated lighting, and thoughtful touches at every turn make this home truly move-in ready. Ideally located near parks, shopping, commute routes, public transportation and schools, this property offers the rare combination of location, style, and value in one of Sacramento's most established neighborhoods. Welcome home!

  Listed at $400,000 by Dana L. Miller - GUIDE Real Estate
2967 Joerger ST, Rancho Cordova, CA 95670

Know someone who may be interested? Let me know at paul@guiderealestate.com

*These rates are courtesy of Dara Delgado - Home Loans*