Twice-monthly video updates on the Southeast housing market as part of the new Market Intel program.

ATLANTA, GA, UNITED STATES, October 16, 2024 /EINPresswire.com/ -- First Multiple Listing Service (FMLS) proudly announces its first Market Intel program after the appointment of Leslie Appleton-Young as the new Chief Economist. Appleton-Young brings a wealth of experience in housing market analysis, economic trends, and data-driven forecasting. With her extensive background and insights, she will proactively lead the organization in providing critical economic guidance as the housing market faces evolving dynamics.

Appleton-Young will provide market reports and economic insights to FMLS members and the public as part of her role. Her first initiative is the launch of FMLS Market Intel, a video series designed to help the media, consumers, and real estate professionals stay informed about key market trends. You can view her inaugural Market Intel report here.

The impact of the rate cut on housing affordability, buyer demand, and market inventory will be a focal point of her future reports. According to Freddie Mac, early indicators suggest a positive shift, with mortgage rates declining from nearly 8% to 6.09%. However, Appleton-Young cautioned that it may take time for rate reductions to fully influence market behavior.

"The key question is whether lower rates will encourage more buyers to enter the market and sellers to list their homes," said Appleton-Young. "While weekly data shows promising signs, it's too early to confirm if we are at an inflection point.”

Appleton-Young also discussed new risks that could impact the economy and housing market. Recent events, such as Hurricane Helene and Milton’s devastating impacts across the Southeast and rising geopolitical tensions in the Middle East, could cause economic shocks and disrupt market stability. Rising oil prices, driven by the conflict, pose a potential inflationary threat, further complicating the financial landscape.

Despite these challenges, Appleton-Young emphasized the importance of context. "New listings in the FMLS area were 12% higher in September compared to last year, but we're still operating below pre-pandemic inventory levels," she noted. "The market remains supply- and affordability-constrained, and ongoing rate reductions will be essential for long-term growth.”

With her strategic insights, Leslie Appleton-Young aims to empower real estate professionals with the tools and information they need to succeed. FMLS encourages members to stay tuned to Market Intel for the latest updates on market trends, interest rates, and economic forecasts.

"We are thrilled to welcome Leslie to the FMLS team," said, Jeremy Crawford, FMLS’ President & CEO. "Her extensive knowledge and unique perspective will be invaluable as we launch “Market Intel.” This will provide FMLS members with timely analysis and insights, empowering them to stand out as leaders and experts in real estate with guidance from Market Intel."

Steve Mapes
FMLS
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FMLS Market Intel - October 10, 2024

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