Data from the Survey of Market Absorption of Apartments (SOMA), produced by the Census Bureau, suggest continued improvement for the multifamily sector in the fourth quarter of 2021 due to strong demand and low vacancy rates. However, the decline in the number of apartment and condominium completions in the fourth quarter of 2021 may reflect…
As rising mortgage rates and higher home prices continued to price out first-time and young homebuyers and reduce affordability, existing home sales dropped to the lowest level since June 2020, according to the National Association of Realtors (NAR). However, the trend in home price appreciation continued as supply remained tight. Total existing home sales, including…
Consumer prices increased at a somewhat slower pace in April, the smallest monthly increase since August 2021, though inflation remains near a 40-year high. The food at home and shelter index rose at their fastest pace since November 1980 and April 1991. Though gas prices have fallen from their March highs, the pace of inflation…
As rising mortgage rates and high inflation continue to price out homebuyers and reduce affordability, existing home sales dropped to the lowest level since June 2020, according to the National Association of Realtors (NAR). However, the trend in home price appreciation continued as supply remained tight. Total existing home sales, including single-family homes, townhomes, condominiums…
Driven by higher food, gasoline and housing cost, consumer prices continued to accelerate in March. This marked the sixth straight month for inflation above a 6% rate and was the fastest annual pace since December 1981. Though gas prices have fallen slightly from their March highs, the pace of inflation will likely stay high in…
After dropping to a one-year low last month, consumer confidence rebounded slightly in March as strong job growth offset consumer’s concerns about the Ukraine crisis and decades-high inflation. The Consumer Confidence Index, reported by the Conference Board, rose 1.5 points from 105.7 to 107.2 in March. The Present Situation Index increased 10.0 points from 143.0…
