@Peter Cogliano housing economists agree with you and point to five main reasons that the market will not crash anytime soon: low inventory, lack of new-construction housing, large amounts of new buyers, strict lending standards and a drop in foreclosures.

Jones, Chief Economist at Stewart Title.

Bureau of Labor Statistics said Wednesday in its monthly inflation report.It’s the smallest increase since March 2021, around the time when pandemic-era inflation began rising quickly.The moderation in inflation has been broad-based, and there are encouraging signs looking ahead, economists said.The Federal Reserve is still expected to raise interest rates at least one more time.Inflation slowed sharply in June to its slowest pace in more than two years, translating to less of a pinch on the average consumer’s wallet thanks to price relief across categories like energy, groceries and housing.Inflation measures how quickly prices are changing across the U.S. economy.The consumer price index increased 3% in June relative to a year earlier — a slowdown from 4% in May, according to the U.S.

While the US economists are debating if the recession will hit US(CA) in 2019, there are indications the rest of the World economy is starting to slow down.

Inventory is now approaching 4 months, but it is overall in line with levels seen throughout this year.Clare Losey, housing economist for ABoR, comments about how constrained inventory has propped up Austin home prices so far this year in the face of interest rates in the 6-7%+ range:“Despite a slight uptick in mortgage rates in June, the median sales price rose a modest 2.7% from May.

Wall Street Journal and The Economist are good ways to know what cycle we are in and how to move forward.

Spokane is in an interesting place, to the point that even sources like the Economist and Zillow are commenting on it: https://www.economist.com/unit...Personally, I'd love to keep buying.

The greater Austin metro had a similar yearly decline of 15% to a median price of $467,500.Clare Losey, housing economist for ABoR, makes a great point in the report about purchasing power in Austin in the face of higher mortgage rates:“Nationally, from May 2022 to May 2023, homebuyers’ purchasing power declined by an estimated 8% to 9% due to the rise in mortgage rates–May’s mortgage rates, averaging 6.4%, were among the highest they’ve been all year.

I personally think right now is the good time to grab deals before the feds cut rates in 2024/2025 as economist are predicting.

Just this morning, I was on our Thursday morning group call and we heard from an economist that really helped me sort out some things- next month I'm stoked to take my wife & son on one of our quarterly trips with this professional community.