Important information about today’s market and inflation rates.
Today, we’re here with your Houston real estate market update. The numbers for June 2023 have been released, and as you can all see, the market is quite active. This will help all of you stay updated and make informed decisions.
Total property sales are down from last year, but active listings are up, which have been the trend throughout the year. In addition, the pending sales index is higher this month than it was last year during the same month. This is the first time in over a year that the pending sales index is up, showing that our activities have increased.
Another interesting data point is from the U.S. Consumer Price Index. The most recent report showed an inflation rate of 3%, which is significantly down from a year ago when we were at over 9%. This downward trend in inflation shows that we have controlled it more effectively at this time.
What does all of this mean for our buyers and sellers? Know that our inventory levels are healthy, which means more opportunities for everyone. Also, the inflation rate is slowing, which is good for all of you because it results in lower interest rates and better prices on consumer goods.
If any of you have any questions, always feel free to reach out! You can call or email any of us anytime, and we would all be happy to hear from you.