WRE News May 15, 2024
Buyer
Americans are bracing for higher home prices, according to the April 2024 Survey of Consumer Expectations published by the Federal Reserve Bank of New York’s Center for Microeconomic Data.
In the latest report, median home price growth expectations increased to 3.3% after remaining unchanged at 3.0% for seven consecutive months – this is their highest level since July 2022. The expectations for home price acceleration were most pronounced for respondents with a high school degree or less.
The median inflation rate is expected to be 3.3% one year from now, up from 3% in last month’s report. Median expected growth in household income declined by 0.1 percentage point to 3.0%. The series has been moving within a narrow range of 2.9% to 3.3% since January 2023 and remains above the February 2020 pre-pandemic level of 2.7%.
Median household spending growth expectations increased by 0.2 percentage point to 5.2%. The average perceived probability of missing a minimum debt payment over the next three months remained unchanged at 12.9%.
The survey is a nationally representative internet-based poll of a rotating panel of approximately 1,300 household heads. Respondents participate in the panel for up to 12 months, with a roughly equal number rotating in and out of the panel each month.
Stay up to date on the latest real estate trends.
Seller
February 14, 2025
Lifestyle
February 13, 2025
The U.S. Motion Picture Association helps parents limit the amount of violence and sexual content their kids see by requiring a guardian to accompany children under 17… Read more
Seller
February 13, 2025
A total of 30,816 residential properties carried foreclosure filings in January, according to new data from ATTOM.
Seller
February 13, 2025
While some segments of the U.S. housing market are still struggling to recover from a sluggish year of buying and selling marked by high mortgage rates and lagging inv… Read more
Seller
February 13, 2025
If you’re like a lot of aspiring homebuyers, there’s a major hurdle standing in your way — the cost of living.
Buyer
February 12, 2025
Only 15% of California homebuyers could afford to purchase a median-priced, existing single-family home in the state during the fourth quarter of 2024, according to th… Read more
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today