Even though there is a high level of uncertainty in the economy, there are plenty of opportunities for businesses to grow in 2025.
That was one of the messages shared by Patrick Stone, chairman and founder of Williston Financial Group, during the “Q2 Economic Outlook” complimentary webinar offered by The Title Report.
Stone encouraged webinar attendees to “be dynamic” and to focus their efforts on the needs of their clients after reviewing data on items such as single-family homes sales, 30-year mortgage rates, home sale inventory, the amount of homes being constructed and median home sale prices by season.
He said he believes the real estate market “is going to do pretty well” in 2025 because “[interest] rates are going to come down. Rates have already started [going] down.”
Stone noted he believed mortgage rates would decrease, too, and help improve the affordability of homes.
Stone also gave an overview of economic indicators, reviewing interest rates, inflation, tariffs, immigration, and income disparity.
Stone noted income disparity is widening in the U.S. and added it is not often discussed by economists. He pointed out that the top 10 percent of earners account for 50 percent of all spending. This is one reason a recession did not occur in 2022 even though inflation was rising. Wealthy people were still able to make purchases despite increasing prices.
For more from Stone, access the complimentary webinar here.