Property management firm RealPage published new data that shows demand for US apartments began “evaporating” as early as last summer as the highest inflation in a generation crushed consumer confidence.
Newsfeed: Apartment Demand “Evaporated” As Inflation Crushed Consumer Confidence Read More »
No Federal Reserve officials thought it’d be appropriate to begin cutting rates in 2023, and officials worried easing financial conditions could complicate the central bank’s efforts to bring down inflation, according to internal discussions at the Fed’s policy meeting three weeks ago.
Newsfeed: Fed minutes: No rate cuts in 2023, inflation risk remains in focus Read More »
More tech tantrums. China’s Covid surge. And above all, no central banks riding to the rescue if things go wrong. Reeling from a record $18 trillion wipeout, global stocks must surmount all these hurdles and more if they are to escape a second straight year in the red.
Newsfeed: After $18 Trillion Rout, Global Stocks Face More Hurdles in 2023 Read More »
A downturn in the residential real estate market could be nearing, Kieran Clancy, a senior US economist at Pantheon Macroeconomics, recently warned. The potential for a major price decline has been on our radar in recent quarters as elevated mortgage rates and record-high prices create an unfavorable environment for buyers.
Newsfeed: Housing Supply Jumps Most On Record As Market Freezes Read More »
The U.S. housing market is experiencing its second-biggest home price correction of the post-World War II era.
Existing home sales crashed but new home sales rebounded in November, which leaves today’s pending home sales as the deciding vote for just how apparently dismal the US housing market really is.. and the decision is – the housing market is in trouble as pending home sales tumbled 4.0% MoM (vs -1.0% exp) and October’s drop was revised even deeper…
Newsfeed: US Pending Home Sales Crash By Most On Record Read More »
US Home Prices, based on S&P Global’s Case-Shiller data, fell 0.52% MoM in October (the latest data available released this morning), slightly better than the 1.1% drop expected. This slowed the YoY growth 8.64% from 10.4% YoY…
Newsfeed: US Home Prices Tumbled For 4th Straight Month In October Read More »
Home sales fell 35.1% year over year in November on a seasonally-adjusted basis—the largest decline in Redfin’s records that date back to 2012. Home-price growth also lost momentum. The median U.S. home-sale price rose just 2.6% from a year earlier, the smallest gain since May 2020, when the onset of the coronavirus pandemic brought the housing market to a near halt.
After an unexpected rebound in October, new home sales are expected to tumble in November (latest data) following the plunge in existing home sales, starts and permits data, and homebuilder sentiment.
Newsfeed: US New Home Sales Unexpectedly Soar (Again) In November Read More »
Home sales fell 35.1% year over year in November on a seasonally-adjusted basis—the largest decline in Redfin’s records that date back to 2012. Home-price growth also lost momentum. The median U.S. home-sale price rose just 2.6% from a year earlier, the smallest gain since May 2020, when the onset of the coronavirus pandemic brought the housing market to a near halt.
Newsfeed: Home Sales Slumped 35% in November, the Biggest Decline on Record Read More »