Transformative year

Geopolitical tensions, market volatility, and high inflation are poised to retain their prominence throughout the second half of the year, accompanied by other significant macroeconomic factors. As of June 14, the average 30-year fixed mortgage rate soared to 6.86 percent. The Federal Reserve’s relentless series of 10 rate hikes aims to tackle inflation, resulting in the swiftest rate surge witnessed in decades. Consequently, markets are grappling to adapt to this new reality. Sales of previously owned homes have plummeted by 23.2 percent since last spring, and the trajectory of rates and the Fed’s future course for the latter half of the year remain uncertain.

Yet, amidst this familiar sense of uncertainty, it is essential to view 2023 as a transformative year, where economic fluctuations and the previous frenzy in the market subside, giving way to a more balanced marketplace that presents opportunities for both sellers and buyers.

With or without economic uncertainty people are attracted to the greater Sacramento area with it’s vibrant food scene, bustling arts and culture, and a highly desireable moderate climate which makes to general real estate forecast for the area positive.

If you would like to learn more, please call our local office 888 70 CHASE.