Instant Reaction: CPI, August 14, 2024
Inflation is calmer, thereby setting the Fed Reserve up to start the rate-cutting process in September. Consumer prices rose by 2.9% in July and look to head towards the desired 2% in a few months. The Fed has indicated the need to normalize and move away from the current “restrictive” monetary poli
Single-Family Home Prices Had Positive Price Gains in 89% of 223 Metro Areas in Q2 2024
The National Association of REALTORS® reported that home prices continued to rise in the second quarter of 2024. National median prices rose 4.9% year over year to $422,100, and median home prices rose by 8.5% compared to the previous quarter. Of the 223 metro areas, 13% had double-digit year-over-y
Mortgage Rates Decline, but Median Home Prices Rise in June 2024
At the national level, housing affordability fell modestly in June compared to the previous month, according to NAR’s Housing Affordability Index. The monthly mortgage payment increased by 1.0% compared to the prior month, while the median price of single-family homes increased by 2.4%. The monthly
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