As the world begins to emerge from the global pandemic, consumer spending habits are shifting. Americans who were once investing in home improvements during the height of lockdowns are now redirecting their funds towards experiences like travel, dining out, and other service-based purchases. The allure of creating a vacation-like oasis in the backyard has waned
Real Estate
The real estate market has been experiencing a downturn in recent times, with the S & P 500’s real estate group being the only one to have fallen in 2024, recording a slide of 4.7%. This decline has been attributed to significant uncertainty in the commercial real estate market, particularly concerning interest rates and the
The landscape of Manhattan real estate is experiencing a significant shift, with apartment prices falling and inventory levels on the rise in the second quarter of 2024. Reports from Douglas Elliman and Miller Samuel indicate that the average sales price for real estate in Manhattan has dropped by 3%, hovering just above $2 million. Additionally,
The real estate market is experiencing a noticeable change as home prices are starting to plateau after months of consistent growth. While prices are still higher compared to a year ago, reports indicate a decrease in price gains and a shift towards more balanced buyer-seller dynamics. The Covid-19 pandemic initially caused a halt in home
The summer housing market is facing ongoing challenges following a disappointing spring season. Despite the anticipation for an improvement, the current state of affairs is far from ideal. The high prices of homes persist, mortgage rates remain at elevated levels, and there is only a slight uptick in the number of homes being listed. These
The housing market is currently facing challenges that are hindering its recovery, according to Bank of America economists. The surge in housing activity during the pandemic has since retreated and stabilized. This has created a lock-in effect for homeowners, limiting housing activity and reducing affordability. The forces that have led to these issues are expected
As fixed-income investors gear up for the second half of the year, it’s important to reassess and potentially adjust their portfolio strategies. Despite initial expectations of multiple interest rate cuts by the Federal Reserve, the current steady federal funds rate range of 5.25% to 5.50% has prompted a need for reevaluation. While the Fed has
When it comes to buying a home in the U.S., location plays a crucial role in the process. The NBC News Home Buyer Index recently revealed the areas that are considered to be the least difficult places to buy a home. Iroquois County, Illinois, Somervell County, Texas, Imperial County, California, and Macon County, Tennessee were
The housing market in the United States is experiencing a shift towards more built-for-rent single-family homes, according to the National Association of Home Builders. This change is a response to the housing affordability crisis that has made it increasingly difficult for individuals to afford traditional homeownership. One of the key drivers behind the surge in
Recent data shows that despite a drop in mortgage rates, consumer response has been lackluster. Mortgage application volume increased only by 0.9% compared to the previous week, indicating a muted reaction from consumers. The average contract interest rate for 30-year fixed-rate mortgages decreased, but the refinance demand dropped by 0.4% for the week. However, it