"Given inflation continues to decelerate and the Federal Reserve Board's current expectations that they will lower the target rate next year, we likely will see a gradual thawing of the housing market in the new year," says Sam Khater, Freddie Mac's chief economist.
A lot of favorable economic news hit headlines in the past week: On Monday, the jobs report showed 199,000 new jobs were added to the economy in November. Tuesday saw the release of inflation data, with the annual rate of inflation dropping to 3.1% in November, down from 3.2% in October. Then on Wednesday, the Federal Reserve "assessed these data points and voted to hold the short-term policy rate steady," explains Realtor.com® data scientist Sabrina Speianu in her most recent analysis.
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