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Did the Fed Hurt Real Estate Sales by Teasing More Rate Cuts?

Brent Wells October 11, 2024

To all my fellow agents reading this blog post, kindly leave me a comment and tell me what you are seeing in your neck of the woods. We are seeing inventory is going up, sometimes substantially and closings are dropping. The data below is a cross section of our massive market in Collin County Texas.

This data is in percentages year over year for August 2024 from our Collin County MLS:

City	Active Listings	Closed Properties
Anna	57.1%	-29.6%
Celina	15.1%	-21.6%
Frisco	64.8%	-3.6%
McKinney	126.0%	20.9%
Prosper	36.6%	-13.7%

Now this could all just be a minor fluctuation in the market, but we saw a drop in website visits, buyer activity and buyers telling us they are going to wait on more interest rate drops right after the Fed announcement.

To everyone that leaves feedback, I truly appreciate it. We are typically in our own little bubble and its hard to tell the true direction of the countries economy from news reports.

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