SVN® International Corp. Economic Update – Keeping our clients up-to-date about the latest real estate landscape trends.
In September 2024, the Federal Reserve cut interest rates by 0.5%, bringing them to 4.75%-5%, their first reduction since 2022. This move signals progress in controlling inflation. The rate cut is expected to boost opportunities for refinancing and expansion in commercial real estate, particularly in multifamily properties. Despite optimism in business circles, consumer confidence fell closer to recession concerns. Meanwhile, OpenAI urged the U.S. government to invest in data centers, and retail sales grew modestly, with non-store retailers seeing a 7.8% annual increase.
Click below to keep reading about the latest updates including commercial and residential property prices, retail sales, economic projections, and more!
