Consumer confidence rose to an eight-month high in December as declining gas prices and easing inflation contributed to more optimistic views of economy. However, spending plans were mixed. Vacation intentions improved, while the intention to buy homes and big-ticket appliances cooled further due to elevated…
As rapid rising mortgage rates continue to weaken housing demand, the volume of existing home sales has declined for ten consecutive months as of November, according to the National Association of Realtors (NAR). This is the longest run of declines since 1999. While mortgage rates…
Consumer prices in November saw the smallest year-over-year gain since December 2021.While still elevated, inflation experienced the second month below an 8% annual growth rate since February 2022. However, the shelter index continued to rise at an accelerated pace and was more than offsetting decreases…
Information obtained from the US Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB, shows the share of new homes with a two-story foyer decreased in 2021. For 2021, most new single-family homes were built without a two-story foyer nationally and regionally. According to…
As higher mortgage rates continue to weaken housing demand, the volume of existing home sales has declined for nine consecutive months as of October, according to the National Association of Realtors (NAR). This is the longest run of declines since 1999. The average 30-year fixed…
Consumer prices in October saw the smallest year-over-year gain since January 2022, and while still elevated, inflation experienced the first month below an 8% annual growth rate since February 2022. However, the shelter index continued to rise at an accelerated pace and the energy index…
As rising mortgage rates continue to cool the housing market, the volume of existing home sales has declined for eight consecutive months as of September, according to the National Association of Realtors (NAR). The average 30-year fixed mortgage interest rate has increased from 3.11% at…
