Howdy, San Antonio! February’s economic rollercoaster ride wasn’t for the faint of heart. Whether you’re a seasoned market savant or just dipping a toe into the housing market waters, the twists and turns in both national and local trends are enough to keep anyone on their toes. So, grab your boots (and maybe a calculator), because we're breaking it all down—witty, educational, and full of Texas charm.
Imagine a dance partner who keeps switching between smooth moves and unexpected stumbles—that’s the national market in a nutshell. The 10-year Treasury yield slid from 4.52% to 4.21%, sparking some hope for lower interest rates. But wait! Even with that little drop, existing and new home sales fell off the dance floor. Chalk it up to a combo of lingering high mortgage rates, cold weather, and buyers still clutching their wallets.
The Fed, ever the watchful chaperone, isn’t ready to cut rates just yet. Fed Chair Jerome Powell hinted there might be room for a rate drop only if inflation eases or the labor market loosens its hold. For now, it’s a balancing act between keeping inflation tame and avoiding a recession. Think tightrope walking—with the stakes being your mortgage rate.
Here in San Antonio, we like to two-step to our own rhythm. While the national market grabs headlines, our housing market takes the twists and turns and mixes them with a hearty dose of local flavor.
San Antonio’s steady population growth and job creation keep the market moving, though there’s an undeniable slowdown. But here’s the million-dollar (or, rather, several-hundred-thousand-dollar) question: how are prices holding up? Inventory levels? Demand? Unlike those generic cookie-cutter market statistics, what really matters down here is a nuanced understanding of our city’s unique market trends.
And that’s where a rock-solid property appraisal shines. It’s your guide, your crystal ball, and your secret sauce all rolled into one. Spoiler alert: prices can hold steady in some areas while making surprising moves elsewhere. It all boils down to knowing your local dynamics.
Inflation—ugh, are we still talking about it? Yep. Like a persistent houseguest, it just won’t leave. With both the Consumer Price Index (CPI) and the Personal Consumption Expenditures (PCE) showing increases, inflation remains a stubborn roadblock.
Add to the mix the Fed’s Herculean battle to rein it in versus the federal government’s wild spending spree, and you’ve got quite the economic tug-of-war. For buyers and sellers alike, this uncertainty creates one truth: accurate, reliable appraisals are more important than ever.
Whether you’re navigating the bumpy road of home buying or selling, one thing’s certain—having the right information in your hands is a game-changer. Don’t get stuck guessing or chasing trends.
With On the Mark Appraisals, you’re in trusted hands. We provide precise, market-savvy appraisals that give you the clarity and confidence you need to make informed decisions. Don’t let the market spin you around—let’s dance through this market together. Contact us today for your appraisal needs. Ready to take charge of your property’s true value? Let’s get started!