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…
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…
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…
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 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…
