The dual mandate of the Federal Reserve is to maintain stable inflation and full employment, and while the latter goal has mostly been achieved post-pandemic, the former remains far from target. One of the primary instruments of monetary policy the Fed uses to achieve its dual mandate is controlling the federal funds rate. The Federal Open Market ...
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In March 2022, the Real House Price Index (RHPI) increased 32.5 percent year over year, which is the fastest growth in the more than 30-year history of the series. This rapid annual decline in affordability was driven by two factors: a 21.6 percent annual increase in nominal house prices and over a full percentage point increase in the 30-year, ...
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The market potential for existing-home sales in April declined 3 percent compared with last month, falling to 5.74 million at a seasonally adjusted annualized rate (SAAR). Housing market potential is down 8.1 percent, compared with the roaring housing market in April 2021, but today’s housing market is still very 2019, which was the housing ...
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In February 2022, the Real House Price Index (RHPI) jumped up by nearly 31 percent. That’s the fastest growth in the more than 30-year history of the series. This rapid annual decline in affordability was driven by two factors: a 21.7 percent annual increase in nominal house prices and a nearly full percentage point increase in the 30-year, fixed ...
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Since the start of the global pandemic in March 2020, we have weathered unprecedented pandemic-induced changes and the housing market has been no exception. The typically hot spring home-buying season in 2020 was initially frozen by the pandemic’s impacts and shelter-in-place orders. As potential home buyers emerged from the stay-at-home orders, ...
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In August 2021, our analysis found that owning a home was cheaper than renting in all 50 of the top U.S. markets, largely due to the ownership benefit of house price appreciation. Given house price appreciation nationally was historically strong in 2021, it’s unsurprising that owning a home made more financial sense than renting last year. Looking ...
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