According to recent news, the current state of the residential real estate market in Peoria is influenced by several factors that are affecting property values. One such factor is the potential for lower interest rates, as proposed by Fed Governor Adriana Kugler. This could lead to an increase in demand from buyers, as lower rates make mortgage payments more affordable. In turn, this increased demand could drive up property prices in Peoria. However, it's important to consider that while lower interest rates may be beneficial for buyers, they could also contribute to further disinflation concerns and weaker consumer spending, as mentioned by Kugler in her proposal. This could ultimately have a negative impact on the economy and real estate market, potentially leading to a slowdown or even a decrease in property values over time. Another factor that is currently affecting property values in Peoria is the slower-than-last-year's pace of economic growth. While this has not resulted in job loss or disruption, it could lead to a decrease in demand from buyers who are more cautious about making major purchases during uncertain economic times. Overall, while lower interest rates may provide some short-term benefits for the real estate market in Peoria, there are still several factors that could affect property values in both positive and negative ways. As a result, it's important for buyers and sellers to stay informed about the latest news and trends in the market, in order to make informed decisions and navigate these uncertain times.