Real Estate News 03/04/2024

Today’s News Synopsis:

The U.S. economy defied expectations of a recession and grew 2.5% in 2023. The labor market remains strong while inflation is trending New listings of U.S. homes for sale rose 13% year over year during the four weeks ending February 25, the biggest increase in nearly three years. Total inventory is also improving: Active listings are flat from a year ago, marking the first time in nine months the total number of homes for sale hasn’t declined.

In The News:

Redfin – “Housing Market Update: New Listings Post Biggest Uptick In Nearly 3 Years, But Buyers Show Restraint as Rates Rise“ (02-29-24)

“More sellers are listing their homes, but 7% mortgage rates and still-high home prices are pushing down sales. ”

CNBC –  “What student loan borrowers need to know this tax season” (03-04-2024)

“There have been a lot of recent developments for student loan borrowers, some of which may impact their 2023 tax filing.”

CNBC –  “IRS targets wealthy ‘non-filers’ with new wave of compliance letters” (02-29-24)

“The IRS on Thursday unveiled plans to target wealthy “non-filers” with a new round of compliance letters.”

Yahoo Finance – “Pending home sales fall across US regions in January: NAR” 03-01-2024)

“US pending home sales, as reported by the National Association of Realtors (NAR), in the month of January dropped by 4.9%, with declines across all major US regions compared to a year ago. This marks a continuation of housing market slowdowns heading into the spring home-buying season.”

CNBC –  “The U.S. national debt is rising by $1 trillion about every 100 days” (03-01-24)

“The nation’s debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury.”