Finally, maybe—just maybe—we are seeing a resolution to the conflict with Iran. News of a peace agreement over the weekend spread fast, sending oil prices lower and sparking hope that last week’s inflation numbers might actually be our summer peak.
While we wait to see how that plays out, the good news is that the breakthrough brought some quick relief to 10-year Treasury yields and mortgage rates.
This all comes at a massive moment for the economy. Later today, the Federal Reserve kicks off its first meeting under its new Chair, Kevin Warsh. He has a steep hill to climb:
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The Dilemma: The administration is hoping for interest rate cuts, but inflation has ticked up over the last few months while the job market remains incredibly stable.
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The Outlook: Most financial forecasts suggest that interest rate increases are still more likely than any cuts this year.
Sacramento Market Update: The Summer Surge
Closer to home, our local market is showing plenty of momentum. The data from the third week of May reveals a welcome trend: more new listings are coming online.
Even better, pending sales grew right alongside them. Combined with national data showing a steady pickup in home buyers actively making moves, it is highly likely that June’s numbers will show an even bigger jump in successful, closed sales.
The Takeaway: July is historically one of our strongest months for real estate, even with the 4th of July holiday pause. If the Fed meeting goes well and mortgage rates stabilize or dip, it’s going to be a major boost for the Sacramento summer market. This is definitely a window to watch.
Neighborhood Spotlight: Curtis Park
My newest Living-In Neighborhood Guide features none other than beautiful Curtis Park!
Famous as the home of Gunther’s Ice Cream, it also boasts one of Sacramento’s most fascinating collections of unique, classic architecture.
[👉 Click here to explore the full Curtis Park Guide]
