The Treasure Valley may be seeing interest rates lower in June which would greatly benefit homeowners next year. The Federal Open Market Committee meeting will be held in a few weeks on June 18th, and we believe that they are going to lower their interest rate; we’re curious if it will be 0.25 or 0.50. Low interest rates are beneficial for homeowners, and if you’re planning on buying a house this year, those low rates will be great for saving money as you navigate the hidden costs of home ownership.
We are also experiencing a slowdown in the real estate market here in the Treasure Valley, which is mainly due to interest rates. Right now we have at least 30% more homes on the market than we did last year at this time, but they’re moving slowly towards being sold. We are hopeful that lower interest rates will keep the market moving, hopefully towards a balanced market for both buyers and sellers.
All of us here at TVIPM and Real Estate would be happy to help answer any of your questions about interest rates, housing costs, or anything else you might be pondering as you decide if you’re ready to buy or sell a home. We want to help you find your dream home, despite the challenges of the economy, and help you provide for your family what you need to thrive!