We have additional data pointing towards lower prices, with indicators in shipping and production all suggesting a trend towards reduced inflation, lower interest rates, and a potential decrease in the Fed Rate in early 2024.

In the job market, actual jobless claims stand at 231K, slightly higher than the forecasted 220K, and continuing claims increased to 1.865M, slightly surpassing the estimate. While this might seem concerning, these numbers reflect a return to more ‘normal’ figures.

Retailers, particularly Walmart, are exercising caution due to concerns about consumer spending, which can contribute to price stability. We may be entering a period of deflation over the next four months.

The key takeaway here is normalization. Take action now – start exploring homes, get pre-qualified, and if you’re considering selling your home, reach out to your real estate agent. If you’re a first-time homebuyer, let’s have a conversation and guide you through the process.