The persistence of housing inflation at elevated levels in the U.S. economy has been a cause for concern, even as overall inflation has shown signs of cooling in recent times. Economists have pointed out that the slow decline in housing inflation is a key factor holding back the consumer price index from reaching the target
Real Estate
In recent months, inflation rates have shown signs of easing, providing some relief for consumers. The consumer price index, a key measurement of inflation, rose 3% in June compared to the previous year, a slight decrease from the 3.3% recorded in May. This decline in inflation can be attributed to various factors, including lower gasoline
The high cost of living has left many young adults, particularly Gen Zers, in a difficult financial situation. According to a report from Bank of America, nearly half of Gen Zers between the ages of 18 and 27 rely on financial assistance from their families. This dependence on parental support highlights the challenges that many
The recent surge in home prices, a whopping 40% increase from pre-pandemic levels, should ideally prompt homeowners to consider refinancing their homes. However, the reality is quite different. Despite the potential benefits, the prevailing high interest rates, which have more than doubled in the last two years, are dissuading most homeowners from tapping into their
In today’s real estate landscape, potential homebuyers are facing a unique challenge – a lack of available homes for sale. The housing market has barely begun to recover from a few lean years, and inventory of both new and existing homes is still relatively low. Interestingly, the supply of newly built homes seems to be
San Francisco real estate market has been facing significant challenges despite the positive impact of artificial intelligence. The vacancy rate for office spaces in San Francisco has reached a record high of 34.5% in the second quarter of the year, indicating a broader struggle across the market. While artificial intelligence has played a role in
The real estate market in Manhattan seems to be shifting towards a buyer’s market as apartment prices experienced a notable decline in the second quarter of 2024. Reports from Douglas Elliman and Miller Samuel indicate that the average sales price for real estate in Manhattan dropped by 3% to slightly over $2 million. Additionally, the
The recent reports in the real estate market indicate a cooling trend in home prices. While prices are still higher than they were a year ago, the rate of price gains is shrinking. According to Redfin, the typical house sold for slightly less than its asking price, marking a significant shift from previous years where
The summer housing market is not shaping up to be any better than the weak spring market that preceded it. Despite high home prices and rising mortgage rates, consumers are showing little interest in increasing home listings. As a result, weekly mortgage demand has remained stagnant for the second consecutive week. The Mortgage Bankers Association
The housing market in April of 2024 saw yet another record high in home prices, despite rising mortgage rates and an influx of homes for sale. Traditionally, in such scenarios, prices would start to weaken. However, the current state of the housing market is unparalleled in recent times. The S&P CoreLogic Case-Shiller National Home Price