Which events are scheduled for this week?
The following announcements, events, and reports may have an impact on the financial or mortgage markets this week:
Monday, February 12th
Fed Gov. Michelle Bowman speaks
Minneapolis Fed President Neel Kashkari speaks
Monthly U.S. federal budget – Jan 2023
Tuesday, February 13th
Consumer price index – Jan 2023 and year-over-year
Core CPI – Jan 2023 and year-over-year
Wednesday, February 14th
Chicago Fed President Austan Goolsbee speaks
Fed Vice Chair for Supervision Michael Barr speaks
Thursday, February 15th
Initial jobless claims – Week of Feb 10th
Empire State manufacturing survey – Feb 2023
Philadelphia Fed manufacturing survey – Feb 2023
Import price index – Jan 2023
Import price index minus fuel – Jan 2023
U.S. retail sales – Jan 2023
Retail sales minus autos – Jan 2023
Industrial production – Jan 2023
Capacity utilization – Jan 2023
Home builder confidence index – Feb 2023
Fed Gov. Christopher Waller speaks
Atlanta Fed President Raphael Bostic speaks
Friday, February 16th
Housing starts – Jan 2023
Building permits – Jan 2023
Produce price index – Jan 2023 and year-over-year
Core PPI – Jan 2023 and year-over-year
Fed Vice Chair for Supervision Michael Barr speaks
Consumer sentiment (prelim) – Feb 2023
San Francisco Fed President Mary Daly speaks
Which markets are seeing a drop in home prices?
According to a recent article from Business Insider, they’ve found 32 U.S. markets that have seen a recent decrease in median home prices. They compared quarter-over-quarter data to see which markets had the greatest difference.
The market that has seen the greatest decrease in median home cost from Q3 2023 to Q4 2023? Jackson, MS had a 14.1% drop. Median home prices have gone from $234,200 to $195,500 in Q4 2023.
The top 10 included multiple Florida markets like Naples and Punta Gorda on the list, but Rust Belt spots such as Cleveland and Akron also saw decreases.
Which Super Bowl team has the better real estate market?
The Kansas City Chiefs beat the San Francisco 49ers 25-22 in overtime last night, but which metro area has the hotter real estate market? Real estate analysis and data provider, Costar, compared both markets side-by-side to see which would come out ahead.
When it comes to multi-family and home construction, San Francisco was the clear winner. Costar highlighted the recent improvement in the amount of new projects moving through the planning process and an improving rental market as reasons why their multifamily housing market is improving. However, Costar also mentioned the strength of the jobs market in Kansas City and supply outpacing demand for housing units.
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