Real Estate Weekly Report - Housing Market Affected by Higher Interest Rates and Continuing Low Inventory
Posted by Liza Alley on
Weekly Review
Newsletter - 08/29/2022
Week of August 22, 2022, in Review
Fed Chair Jerome Powell gave an important speech at the annual Jackson Hole Economic Symposium, while two July housing reports showed a slowdown in signed contracts for new and existing homes. Here are the key stories:
- Fed Chair Powell Vows to Continue Inflation Fight
- Pending Home Sales Tick Lower in July
- July’s New Home Sales Fizzle
- What’s Ahead for Jobless Claims?
- Second Quarter GDP Remains Negative
Fed Chair Powell Vows to Continue Inflation Fight
The Fed’s favorite measure of inflation, Personal Consumption Expenditures (PCE), showed that inflation fell 0.1% in July, which was in line with expectations. The year-over-year reading declined from…
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