The U.S. avoided a recession in 2023, and some say it will have a soft landing in 2024. Inflation has hovered in the 3% range for many months higher than the central bank would prefer, but at 2.6% for personal consumption expenditures (PCE), it’s closer to the target range of 2% and far from the double-digit highs since the pandemic began. Most sources cite the core PCE, which excludes volatile energy and food prices which sat at 3.2% by year’s end - the lowest level since March 2021. Sales in March of newly-built homes posted their biggest monthly increase in 15 months, up almost 9%, pushing sales more than 8% ahead for the year. The median price fell almost 2% versus a year ago to a median of $387,600. Mortgage interest rates have crept up and could be dampening demand. As of today, May 1, 2024 - 30 year conventional rates are just under 8% at 7.933%, 30 year VA is 7.13% and 30 year FHA is 7.137. Existing housing inventory remains tight wi...
Welcome to Coastal Living Chronicles, where I share insights and experiences from life as a Realtor on Saint Simons Island and around Glynn County Georgia. Join me as I navigate the coastal Georgia lifestyle, blending real estate expertise with personal anecdotes and tips for making the most of island living. Whether you're seeking real estate advice or simply curious about life along the Georgia coast, you'll find a wealth of information and inspiration here.