Interest rate cuts coming?
Futures Traders are certain that the Federal Reserve will announce its first rate cut by mid-September, with a 100% probability that rates will be reduced by at least 0.25%.
Pasadena, CA
Tue Jul 30 2024
This week the median list price for a single family home in Pasadena, CA is $1,797,500 with the market action index hovering around 52. This is less than last month’s market action index of 54. Inventory has decreased to 90.
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.