The Fed chairman spoke to congress yesterday. He did not give an indication on when interest rates would lower. Two inflation indicators, the CPI & PPI, drop at the end of this week and they will tell a better story. We are coming off the best month of inflation news and two in a row could give us an interest rate drop in September of this year. 

Powell acknowledged the risks of delaying rate cuts, highlighting the importance of careful timing in policy adjustments.

I’m sure we will all be watching to see what happens in September. Hopefully we will get the lower rates everyone is hoping for.

​MARKET REPORT & INTEREST RATES

San Angelo home buyers that are being pre-approved right now are still seeing rates at better than the national average for mortgage rates. If you are looking to buy or sell this year, it is important to speak with a local lender to navigate the process.

With vacations in full swing we still have activity in the San Angelo real estate market. In the past week we have had over 60 new properties hit the MLS, 30 sold homes and over 30 other accepted contracts. The sold properties showed 8 cash sales, 13 conventional loans, 4 FHA and 5 VA loans. On the 9 FHA and VA sales, only one of the buyers did not receive help with their closing costs.

There are currently 64 new construction homes in the MLS. 

There are 457 homes for sale in town plus another 183 under contract in San Angelo. Below is a breakdown of price ranges as well as links to check them out.

Under 100k
100 - 200k
200 - 300k
300 - 400k
400k+

Feel free to share this newsletter with anyone who may be interested! 

Looking for your next San Angelo home, go to Search San Angelo Homes for Sale.

Want to know what is going on in or around San Angelo? Check out my Key Events, I hope to see you there.

LaFreta White, Assoc. Broker | Realtor @ ERA Newlin & Co. | 325.656.6896 | lafreta@sanangeloera.com