Consumer prices continued to break 40-year highs in February due to higher food, gasoline and housing costs. This was the largest year-over-year gain since January 1982. This pace of inflation will likely stay high in the months ahead as Russia-Ukraine crisis continues drive up oil and commodity prices. The Bureau of Labor Statistics (BLS) reported…
Data from the Survey of Market Absorption of Apartments (SOMA), produced by the Census Bureau, suggest continued improvement for the multifamily sector in the third quarter of 2021 due to strong demand and low vacancy rates. The absorption rate of unfurnished, unsubsidized apartments (the share rented out in the first three months following completion) surged…
Despite record-low inventory and higher prices, existing home sales jumped in January as buyers expected further rate increases and locked in current low rates, according to the National Association of Realtors (NAR). However, investors with all-cash offers were squeezing out first-time and young homebuyers. More supply especially at lower-end market is needed in order to…
Consumer prices continued to accelerate in January due to higher food, electricity and housing costs. This was the largest year-over-year gain since February 1982. This higher-than-expected inflation may push the Federal Reserve to become more aggressive and raise the federal funds rate at a faster pace. The Bureau of Labor Statistics (BLS) reported that the…
Fueled by low mortgage interest rates and strong demand, annual existing home sales reached 15-year high in 2021, according to the National Association of Realtors (NAR). However, supply has continued to lag due to ongoing supply-chain disruptions and inventory fell to lowest level since January 1999, keeping home prices elevated and pricing out first-time and…
Led by higher prices for shelter and used vehicles, consumer prices soared by 7.0% in December from a year ago. It was the largest year-over-year gain since June 1982. However, energy prices fell in December, ending a long series of increases. Supply-chain constraints and strong consumer demand related to the pandemic and the reopening of…
Consumer confidence continued to improve in December as inflation concerns eased after hitting a 13-year high last month. Spending intentions for homes, cars, and major appliances all increased. However, consumer spending will continue to face headwinds from higher prices, Omicron surge and reduced fiscal stimulus in 2022. The Consumer Confidence Index, reported by the Conference…
