Interest rate cut not cure-all for DFW housing market but it’s good start, agents say

“The Sept. 18 decision by a panel of Federal Reserve policymakers to cut the federal funds rate by 50 basis points should result in a “gradual rebound” in the number of homes sold in Dallas-Fort Worth, but it may not happen immediately, said Todd Luong, an agent with Re/Max DFW Associates.

‘Eventually, as borrowing costs decline, it should be expected that many sidelined homebuyers will be coming back to explore their housing options again, especially first-time homebuyers who were more rate sensitive,’ Luong said. ‘However, these same buyers should be cognizant that all of this could possibly result in higher demand for housing here in DFW and may even push home prices up from where they currently stand.’“