Existing home sales in June fell to the lowest level since January as limited inventory and fluctuating mortgage rates continued to weight on homebuyers, according to the National Association of Realtors (NAR). Low resale inventory and strong demand pushed existing home prices to the highest…
Consumer prices in June saw a continued deceleration, with the smallest year-over-year gain since March 2021. Over the past twelve months, inflation has been consistently decelerating. Despite a slowdown compared to the previous month, the shelter index (housing inflation) continued to be the largest contributor…
Data obtained from the US Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB, show that the rising trend of two or more stories homes continued in 2022. Although the overall share remained virtually unchanged, the share of two or more stories homes started…
After two consecutive monthly declines, existing home sales saw a modest increase in May as mortgage rates were relatively steady in April, according to the National Association of Realtors (NAR). However, elevated mortgage rates and limited inventory continued to weight on homebuyers. Low resale inventory…
Consumer confidence in June rose to its highest level in 17 months as recession concerns eased. However, spending plans were mixed. Vacation intentions continued to improve, while the intention to buy homes and big-ticket appliances cooled further due to elevated mortgage rates. This shift in…
Consumer prices in May saw the smallest year-over-year gain since March 2021, mainly driven by lower energy prices. This marked the eleventh consecutive month of deceleration. While this measure aligned with expectations, core inflation remained persistent due to the increase in rent prices. The shelter…
