Existing home sales came in much stronger than expected to post the biggest monthly increase in a year, the National Association of Realtors reported on Thursday. There were 4.38 million existing homes sold in February, up by 9.5% from a month ago. Given that February's increase was the third in nine ... READ MORE >
housing inflation
December CPI: Sticky service and housing prices illustrate the difficult last mile in inflation fight
The December Consumer Price Index captures both the broader disinflation taking place inside the goods sector and the persistent inflation inside the service sector. Each generates its own economic and policy narratives that carry implications for the economy in a year of a closely fought ... READ MORE >
When will inflation slow? Pay attention to housing.
A correction in the housing market as mortgage rates reach 20-year highs is underway. While overall price growth has cooled, though, the housing components inside the two inflation reports—the Consumer Price Index and the Personal Consumption Expenditures price index—have shown no signs of ... READ MORE >