SAN DIEGO (KGTV)— San Diegans hoping to buy a home were excited Wednesday when the Federal Reserve announced it was cutting interest rates by half a point.
The move comes as Americans have been dealing with a historic inflation fight on everything from groceries and cars to homes.
The news for San Diegan Kewzah Blair was exciting and made her start thinking about her next move.
Blair is already a homeowner in San Diego County and Nevada, but she knows this opens up the market not only for her but also for first-time buyers.
Her real estate broker, Sheri Jones, says as soon as she heard the news, she started calling her clients, who could potentially now be able to buy.
Jones says more potential buyers could lead to bidding wars on properties and encourages potential buyers to get pre-approved and be ready to act fast.
The Federal Reserve's rate cut is the first since 2020.
