Economic uncertainty continues to push builders to temper their expectations (and pace of construction) based on the latest monthly new residential construction report by the U.S. Census Bureau. The Bureau’s report for July states that privately owned housing starts were at a seasonally adjusted annual rate of 1.24 million. This is a considerable decrease (12.4%)…
In the wake of elevated mortgage rates and rising year-over-year inflation, homesellers are doing their best to stimulate buyer behavior and get their listings off the market. According to a recent report by Bright MLS Chief Economist Lisa Sturtevant, about 40.1% of market listings in the Mid-Atlantic region have had their prices reduced as of…
As many Americans blasted their ACs and took to the roads for summer vacations in July, the cost of energy decreased slightly while inflation overall rose slowly. For the month of July, the Bureau of Labor Statistics (BLS) reports that the Consumer Price Index (CPI) increased slightly by 0.1% on a seasonally adjusted basis. This…
Homeowners are older than the general population, while younger generations are falling behind due to affordability challenges. There has been some expectation of a so-called “silver tsunami,” i.e., when older homeowners begin listing their homes this will boost supply across the housing market. Lisa Sturtevant, chief economist of Bright MLS and publisher of the Housing…
Summer arrives with a positive sign for the housing market, as the National Association of Realtors®’ (NAR) pending home sales report shows growth month-over-month and year-over-year in May 2026. Gains were felt across all four major regions of the United States. “A late spring buyer rush—even with mortgage rates not budging—is an indication of pent-up…
Sales of newly built single-family homes fell 6.2% in April to a seasonally adjusted annual rate of 622,000, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, as the 2026 housing market remains sluggish overall. The pace of new-home sales is down 11.3% from a…
The rate lock-in effect has been a concern on the minds of many in real estate over recent years as mortgage rates have mostly stayed in the 6%-7% range. Homeowners with rates in the 2%-3% range, while they could potentially afford the price of a new home in selling their current one, have reportedly felt…
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As largely expected, inflation has surged this past month. The Consumer Price Index (CPI) grew 0.9% from February to March, with annual inflation at 3.3%. This is a drastic increase from the 0.3% increase seen in February, when annual inflation was 2.4%. Separately, another measure of inflation through the Personal Consumption Expenditures (PCE) price index…
In a rebound from February’s downcast numbers, a report from the Bureau of Labor Statistics on April 3 showed the U.S. economy gaining 178,000 jobs in March, with the unemployment rate sliding slightly to 4.3%. Job gains occurred in healthcare, construction and in transportation and warehousing. Federal government employment continued to decline. Average wages were…
As largely expected, the Federal Reserve held interest rates steady at its March Federal Open Market Committee (FOMC) meeting, leaving the federal funds rate unchanged at a rate of 3.5% – 3.75%—the same level established following December’s quarter-point cut. There was a singular dissenting vote from Stephen I. Miran, who preferred to lower the target…
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