As someone who's walked many clients through the ups and downs of the real estate market since 1985, I always keep a close eye on consumer confidence. In Mid-Q3, even as folks felt a bit better about current conditions, overall confidence dipped—mainly because of concerns about income, business, and job prospects for the months ahead. The present-conditions index jumped by about 7 points to 121, but the expectations gauge slid down roughly 6 points to 68. That’s a level that’s often linked to recession risks. Early in the quarter, we also saw employers cut 23,000 jobs, with unemployment ticking up to around 4%. Interestingly, this wasn’t due to hiring picking up, but rather more people leaving the workforce.
Yet, even with softer confidence, homebuying expectations only eased a bit—and continued to rise in Mid-Q3. About 61% of those surveyed still expected interest rates to climb. With federal policymakers holding rates steady and markets not anticipating much near-term relief, it looks like borrowing costs will stay higher through year-end. As your guide in the Northeast Atlanta real estate market, I’m always here to help you make sense of what these trends might mean for your next step—whether you’re buying, selling, or planning for a life transition.
Leave a Reply