Housing prices in the United States are rising slowly, with buyers being squeezed by high interest rates.
On June 24, according to Gelonghui, due to a decrease in buyers, the growth rate of U.S. home prices slowed in April. Data shows that the national home price Index rose 2.7% compared to the same period last year, which is the smallest increase since the summer of 2023. This is below the 3.4% annual growth rate in March. Some buyers have been forced to sit on the sidelines as high mortgage rates squeeze their budgets. Nicholas Godec, head of fixed income trading and CSI Commodity Equity Index at S&P, stated: “We are witnessing a transformation in the Real Estate market. The era of rapid price increases seems to be over, replaced by a more selective environment, where this
High interest rates and economic uncertainty have driven buyers out of the market, with April housing price increases in the U.S. reaching a new low since the summer of 2023.
Due to a decrease in buyers, the price increase of houses in the United States slowed down in April.
Federal Reserve's Harker: There is currently no pressing reason to lower interest rates.
Gelonghui on June 24: Federal Reserve's Harker: There is currently no urgent reason to lower interest rates; as the Federal Reserve seeks clear guidance, monetary policy may remain unchanged for a considerable period.
Powell firmly resists calls for a rate cut in July! The recently ignited dovish spark has been extinguished.
Powell stated that the inflation impact of Trump's policies may be more lasting, while the economy remains solid. Traders reduced bets on an early rate cut by the Federal Reserve upon hearing this.
WSJ: Powell reiterates a wait-and-see stance, stating that the U.S. economy remains robust.
According to a report by The Wall Street Journal on June 24, Federal Reserve Chairman Powell stated in his written testimony at a congressional hearing that recent economic activity has shown resilience, allowing decision-makers to continue focusing on inflation...
June Philadelphia Fed Regional Nonmanufacturing Activity Index Indicates Slower Contraction
