Plans to eliminate federal income taxes, enact high tariffs and force the Federal Reserve to cut federal funds rates could tank the housing market, economists say
National home prices jumped 6.5% in March from a year earlier to a new record high with the Northeast leading regionally
Newly built homes available on the market rose to 480K, representing a supply of 9.1 months at the current sales rate, up from an 8.5 month supply in March, according to US Census Bureau data
Sales of newly built homes slipped a modest 0.3% between January and February to a seasonally adjusted annual rate of 662,000, according to data released Monday by the US Census Bureau
Home prices rose 5.5% on an annual basis in December, up from 5% in November, according to dueling data released Tuesday by S&P Global and the Federal Housing Finance Agency
Home prices increased 5.1% between November 2022 and November 2023, despite falling 0.2% month over month from October
The index for shelter rose 0.3% between September and October and was up 6.7% year over year, according to CPI data released Tuesday
Inflation rose 0.4% in September, a near standstill from August, according to the latest Consumer Price Index Thursday. Economists believe 'shelter' will soon recede as the largest contributor
New-home sales rose 4.4% in July to an adjusted annual rate of 714,000 as the supply of existing homes continues to drop, according to data released Wednesday by the US Census Bureau
Housing costs were again the largest contributor to inflation, accounting for more than 70% of the annual increase of the Consumer Price Index, according to new Bureau of Labor Statistics data
The impact of high housing costs is expected to fall out of inflation, giving cover for the Federal Reserve to stop raising interest rates for now, economists said. But there are still warning signs
The all items index increased 4.9% for the 12 months ending April, the smallest 12-month increase since the period ending April 2021, according to the Consumer Price Index Summary
Sales of newly built single-family homes rose 1.1% in February while the average sale price climbed to just under $500K, according to data released Thursday by the US Census Bureau
Apartment building construction soared 24% in February, lifting new housing starts overall despite a weak month for single-family builds, according to data from the US Census Bureau
While the Consumer Price Index jumped a modest 0.4% month over month, the collapse of Silicon Valley Bank and Signature Bank could keep rate hikes at bay, economists said Tuesday