Existing-home sales fell at a faster rate in the latest report by the National Association of Realtors® (NAR) on Thursday. For August, existing-home sales decreased by 2% on a month-over-month basis and at a seasonally adjusted annual rate of 3.98 million. This marks the third consecutive month of declining sales, as July reported a decrease…
Above, Federal Reserve Chairman Kevin Warsh Real estate professionals anxiously awaiting lower mortgage rates may not see a decrease anytime soon, as it remains uncertain what action the Federal Reserve will take at its September meeting. In his debut speech at the 2026 Jackson Hole Economic Policy Symposium Friday in Wyoming, Fed Chairman Kevin Warsh…
When many economic indicators pointed to issues with inflation, the governors of the Federal Reserve’s Open Market Committee (FOMC) instead voted once again to maintain their “wait and see” approach in their most recent meeting. Newly released minutes from the meeting, however, reveal that three members of the committee did in fact advocate for a…
The Federal Reserve chose to hold interest rates unchanged at the June Federal Open Market Committee (FOMC) meeting. The past few months, which have seen both higher inflation and a relatively soft labor market, have also created a sense of deadlock and a wait-and-see attitude among the Fed. While the June vote was ultimately unanimous,…
The Personal Consumption Expenditures (PCE) price index increased 0.7% in May, as the economy continues to absorb tariff impacts and Iran war-related disruption. Excluding food and energy (so-called “core inflation”), the headline PCE price index increased by 0.3%, according to the latest report from the Bureau of Economic Analysis. Year-over-year, the PCE price index increased…
The ongoing conflict between the United States and Iran has caused inflation to increase; energy prices most recently boosted annual inflation to a three-year high of 3.5%. If inflation continues to rise, then the Federal Reserve board expects they will have to hike interest rates as an offset, based on revelations in the latest meeting…
Editor’s note: Econ Review is a roundup of the month’s housing and economic market data reports. As spring progresses, the industry is awaiting data related to how the season shaped up ahead of another potential boom in activity over the upcoming summer. Here are some highlights from the housing and economic data that hit the…
Jerome Powell’s reign at the Fed may be at its end, but he’s not going anywhere. On Wednesday, the Federal Reserve held interest rates steady at its April Federal Open Market Committee (FOMC) meeting, leaving the federal funds rate unchanged at a rate of 3.5%-3.75% for the third straight month since December’s quarter-point cut. And…
Editor’s note: Econ Review is a roundup of the month’s housing and economic market data reports. The housing market is built on data. Home prices, home sales, construction rates coupled with economic data like inflation, jobs, interest rates—it all creates the ecosystem that is the housing market. Understanding the state of the market means understanding…
While many across the industry were predicting interest rate cuts and a transition to a more balanced economy in 2026, the year so far has been shaping up a bit differently. Inflation remains elevated, mortgage rates are facing difficulty due to rising geopolitical tensions in the Middle East, and the Federal Reserve has yet to…
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