Rate Cut to Boost Homebuyer Moods, Market briefs

In Houston, As late summer temperatures soared during August, Houston’s single-family housing market chilled out. But with a Federal Reserve and other positive signs in Autumn 2024,the housing market has plenty of positive vibes.

“The slower pace of sales enabled inventory to expand and prices to moderate, creating a positive landscape for home buyers,” says the Houston Association of Realtors’ August 2024 Market Update.

HAR Chair Thomas Mouton with Century 21 Exclusive Properties said more renters could interested in homeownership after the Federal Reserve cut the interest rate by half a percentage point last week. He expressed optimism about the Fed’s historic interest rate cut, its first downward movement since the days of the pandemic.