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.
Lifestyle
July 26, 2024
A trip to Paris wouldn’t be complete without indulging in France’s most iconic culinary delights, from buttery croissants to fine cheeses and wine.
Buyer
July 26, 2024
Two newly published data reports are offering very different views on the best markets for rental housing.
Buyer
July 25, 2024
When 51-year-old Pazit Aviv walks her dog in her Silver Spring, Md., neighborhood, it takes an extra 30 minutes as she inevitably gets lost in an impromptu chat with a… Read more
Buyer
July 25, 2024
If you’re in the market to buy a home, there’s some exciting news for you.
Lifestyle
July 24, 2024
The success of a food or drink business is predicated on many things—quality, flavor, price and market reach, to name a few—but in a world plagued by climate change, w… Read more
Buyer
July 24, 2024
Even though data shows inflation is cooling, a lot of people are still feeling the pinch on their wallets.
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