Housing Update
For millions of Americans, the end of cheap money hit home - literally. The Federal Reserve’s rapid-fire interest-rate increases paralyzed the housing market as buyers decided to wait for lower prices and relief from mortgage rates that had doubled. Would-be sellers kept inventory scarce by clinging to low interest loans and memories of home values that hit records in the pandemic.(Full Story)
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Wall St Ends Up As Data Suggests Inflation May Be On Downward Trend
The Labor Department's final jobs report of 2022 showed the U.S. economy added 223,000 payrolls last month while the unemployment rate fell to 3.5%. Economists had expected readings of 200,000 and 3.7%, respectively. The S&P 500 jumped 1.7%, while the Dow Jones Industrial Average added 550 points, and Nasdaq advanced 1.5%. (Full Story)
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December Inflation Breakdown
The inflation rate fell again in December, to 6.5% on an annual basis, according to the consumer price index. That’s down from 7.1% in November and a 9.1% peak in June 2022. This represents the 6th monthly decline in inflation which is now down 28.5% off its high. The 10-year treasury note is around 3.5, down from 3.879 at the end of December.
(Full Story)
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The Martin Eiden Team's State of the Market Event
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Wondering what the current state of the real estate market looks like right now? As we head into this new year, we wanted to give you an full update on all things Real Estate so you are equipped with all the tools you need to make informed decisions in this 2023 market.
Join Us NEXT WEEK!
Thursday, January 19th
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610 West End Avenue, Unit 8D
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575 Park Avenue, Unit 1407
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227 Ocean Parkway, Unit D1
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We are partnering with Block: a home renovation platform that helps you design, plan, and build all in one place. If you are planning a home reno, use Block to get an on-site estimate of costs before you even start. Plus use offer code APKSTEPTXU to get $500 off your materials purchase. Click here for more info.
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© Compass 2023 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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