CARMEL REAL ESTATE

Real Estate Market Report “October 28th, 2024:

Carmel Status Report

Carmel, IN Market Update
Week of Oct 28, 2024

  • Median List Price: $599,999

  • Market Action Index (MAI): 53 (up from 52 last month)

  • Inventory: 98 homes

Market Summary
The Carmel market holds steady in a strong seller’s zone with low inventory balancing stable prices. Watch the MAI—any increase could prompt price growth. to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have recently resumed upward pressure.

Carmel Housing Report

Carmel Condominiums

Mortgage Rates change daily with U.S. Financial Markets

Mortgage Rates change daily with U.S. Financial Markets

Carmel, IN Condo Market Update
Week of Oct 28, 2024

  • Median List Price: $494,500

  • Market Action Index (MAI): 35 (down from 37 last month)

  • Inventory: 45 condos

Market Summary
The Carmel condo market is cooling, with stable prices and a slight seller’s advantage. Keep an eye on the MAI—further declines could apply downward pressure on prices, while a rise might support price growth.

Weekly Mortgage Rates: Local Mortgage Bankers and Brokers

We offer competitive mortgage rates from trusted local lenders. Take advantage of available discounts—no need to pay points or origination fees. Whether you’re working with mortgage bankers, credit unions, or banks, we’ve got you covered for the best deals.

Conventional, FHA, VA, and Jumbo Loans

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  • Buy a New Home.

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Should You Refinance Your Mortgage? The Fed’s Big Cut Changed the Math

Millions can potentially save money by refinancing, but many are waiting for rates to drop further

Fed Cuts Interest Rates by Half a Point: What It Means by USA Today

The Federal Reserve made a big move on Wednesday by lowering its key interest rate by half a percentage point. This is the first rate cut in four years, and it was larger than expected, which cheered up the markets. The decision comes as the job market shows signs of slowing, which poses a risk to economic growth.

With inflation easing, the Fed decided on an aggressive approach to cut rates, but they only forecast a total of half a point in further cuts this year. This indicates the Fed doesn’t see the job market collapsing yet.

“The Fed is more confident that inflation is moving toward 2%, and believes the risks to employment and inflation are balanced,” the Fed said in a statement after their two-day meeting. They also noted that the economic outlook remains uncertain, and they are monitoring both sides of their goals for employment and inflation.

Fed Governor Michelle Bowman disagreed, favoring a smaller quarter-point cut. At a press conference, Fed Chair Jerome Powell acknowledged the slowdown in job growth: “Job creation has clearly slowed in recent months, and that’s something to watch. The risk of inflation has decreased, but concerns about employment have risen.”

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