The median existing home price hit another record in June, rising to $416,000, and sales declined for the fifth straight month as higher interest rates pushed more buyers out of the market.
The median existing home price hit another record in June, rising to $416,000, and sales declined for the fifth straight month as higher interest rates pushed more buyers out of the market.
Foreigners bought 98,600 U.S. homes in the year ended in March, down 7.9% from the prior year. That is the lowest level on record since NAR began collecting the data in 2009. But the dollar volume of residential real estate purchased by international buyers rose 8.5% to $59 billion, reflecting a large increase in U.S. home prices.
There are 2,845 private equity funds currently in the market, collectively aiming to raise over $1 trillion in capital. Both figures represent increases of more than 60% over the beginning of 2021.
The average rental price in Manhattan was just above $5,000 last month, marking the first time that has happened in the history of New York City. The exact average was $5,058, or $82.18 a square foot, which is a 29% increase from the average rent of $3,922 at this time last year.
The probability of a one-point increase rose to around 79% on Wednesday, up from around 12%.
U.S. inflation reached 9.1% in June, its highest rate in nearly 41 years.
The companies in the S&P 500 paid out a record $140.6 billion in dividends in the most recent quarter. That’s up from $137.6 billion in the first three months of the year and $123.4 billion in the same quarter last year.
Fed fund futures show that traders assign a roughly 96% probability that the Federal Reserve will deliver a 0.75-percentage-point rate hike at its meeting later this month, according to CME Group. That is up from 84% a day ago, after minutes from the central bank’s recent meeting showed that taming inflation was the main goal.
The U.S. has recorded more than 11 million unfilled job openings in six of the past seven months, four million more monthly openings than was typical before Covid-19 hit the economy in early 2020.
The S&P 500 fell 21% through Thursday, suffering its worst first half of a year since 1970. Investment-grade bonds lost 11%, posting their worst start to a year in history.