Real Estate News 01/31/2025

Today’s News Synopsis:

In The News:

SF Chronicle – “What Fed rate announcement means for Californians and their money“ (01-30-25)

“The Federal Open Market Committee said that after reviewing the economic climate during its two-day regularly scheduled meeting, it would not raise or lower the federal funds rate from its current target of 4.25% to 4.5%. In other words, no rate change.“

Yahoo Finance – “PCE: Fed’s preferred inflation gauge meets expectations in December“ (01-31-2025)

“The latest reading of the Federal Reserve’s preferred inflation gauge showed prices increased in line with expectations in December as inflation remained above the Fed’s 2% target.”

CNN Business –  “Your complete guide to tariffs: How much you’ll pay, and when“(01-31-25)

“President Donald Trump says he will impose his tariffs over the weekend, gambling that taxing American companies for imported goods will ultimately punish the countries that make stuff Americans want — and bring those nations to the negotiating table. But it’s a risky bet that could easily backfire on American consumers and the economy.”

Redfin News –  “The Typical Home Is Taking Nearly 2 Months to Sell. That’s The Slowest Pace in 5 Years.“ (01-30-25)

“There are more than five months of supply on the market, the most since early 2019. Homes are taking a long time to sell largely because housing costs are so expensive–but for buyers who can afford it, there are a fair amount of homes to choose from. ”

Realtor.com –  “The American Dream Now Costs $4.4M—See How Much of That Pie Goes Toward Your Home” (01-28-2025)

“Living the American Dream now comes with a jaw-dropping price tag of $4.4 million, up more than $1 million from the year before—and owning a home accounts for nearly a fifth of that amount.”