Real Estate News 05/15/2024

Today’s News Synopsis:

US consumer price increases cooled during the month of April, according to the latest data from the Bureau of Labor Statistics released Wednesday morning.

In The News:

Yahoo Finance – “Inflation pressures ease in April as consumer prices rise at slowest pace in three months“ (05-15-24)

“The Consumer Price Index (CPI) rose 0.3% over the previous month and 3.4% over the prior year in April, a slight deceleration from March’s 3.5% annual gain in prices and 0.4% month-over-month increase”

Redfin –  “Today’s Inflation Report Should Bring Mortgage Rates Down Slightly, A Relief For Homebuyers” (05-15-2024)

“The April CPI report came in just a tad softer than expected, which means mortgage rates should come down slightly and leaves open the possibility that the Fed will cut interest rates this summer. ”

Realtor.com –  “Where the Richest of the Rich Live: The 10 Most Expensive ZIP Codes for Homebuyers (and the Top Listing in Each)” (05-09-24)

“Using Realtor.com® listing data, we’ve compiled the 10 most expensive ZIP codes in the country for homebuyers, along with the single priciest listing in each.”

NAR – “Single-Family Home Prices Had Gains in 92.3% of 221 Metro Areas in 2024 Q1” (05-10-2023)

“The National Association of REALTORS® reported that home prices continued to rise in the first quarter of 2024. National median prices rose 5.0% year over year to $389,400, while median home prices fell by 0.5% compared to the previous quarter. Of the 221 metro areas, 28.5% had double-digit year-over-year price increases in the first quarter of 2024.”

CNBC-  “High inflation harms older households — and two factors determine who is most at risk, research finds“ (05-15-24)

“New government data shows inflation may be showing signs of easing. That may be good news for retirees and people approaching retirement.”