Real Estate News 03/06/2024

Today’s News Synopsis:

In prepared remarks for appearances on Capitol Hill, Fed Chair Jerome Powell said policymakers remain attentive to the risks that inflation poses and don’t want to ease up too quickly.

In The News:

CNBC – “Powell reinforces position that the Fed is not ready to start cutting interest rates“ (03-06-24)

“Powell noted again that lowering rates too quickly risks losing the battle against inflation and likely having to raise rates further, while waiting too long poses danger to economic growth.”

Yahoo Finance –  “Seller incentives aren’t cutting it as homebuyers struggle with affordability” (03-06-2024)

“Seller concessions are popping up in home listings across the country, but the offerings alone aren’t enough to lure in cash-strapped buyers.”

Redfin –  “The U.S. Housing Market Gained $2 Trillion in Value Over the Last Year” (02-29-24)

“The total value of U.S. homes jumped 5%, the biggest gain in nearly a year, as a shortage of houses for sale propped up values. Affordable East Coast and Midwest metros saw gains of over 10%, while pricey metros and pandemic boomtowns saw declines.”

NAR – “Inside Home Systems: Save Money and Energy with Home Weatherization” (02-29-2024)

“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 –  “What the SEC vote on climate disclosures means for investors” (03-06-24)

“The Securities and Exchange Commission on Wednesday voted 3-2 to issue a final rule that requires certain U.S. companies to disclose their risks related to climate change and how they contribute to a warming planet via greenhouse gas emissions.”