US Consumer Confidence Hits a Seven-Month Low

Recently, US consumer confidence slipped to its lowest point in seven months. While many felt a bit more secure about their current situations in mid-Q3, concerns grew about what the next few months might bring for jobs, income, and business opportunities. The present-conditions index climbed by about 7 points to 121, but expectations dropped nearly 6 points to 68—a level often connected to recession risks. Early in Q3, 23,000 jobs were cut and unemployment ticked up to around 4%, mainly because more people left the workforce rather than due to increased hiring. Even with this dip in confidence, homebuying expectations only softened a bit in mid-Q3 and have actually continued to rise. Around 61% of consumers still believe interest rates will go higher. With federal policymakers keeping rates steady and markets not expecting much relief soon, it looks like borrowing costs will stay elevated into the end of the year. Navigating these changing conditions is part of the journey I help guide my clients through, ensuring you’re supported every step of the way as you work toward your real estate dreams.