by Calculated Risk on 6/14/2024 08:11:00 AM The U.S. hotel industry reported higher performance results from the previous week but mixed comparisons year over year, according to CoStar’s latest data through 8 June. … 2-8 June 2024 (percentage change from comparable week in 2023): • Occupancy: 69.1% (-0.1%)• Average daily rate (ADR): US$160.90 (+1.8%)• Revenue…
by Calculated Risk on 6/13/2024 05:55:00 PM What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For April, Realtor.com reported inventory was up 35.2% YoY, but still down almost 34% compared to April 2017 to 2019 levels. Now…
by Calculated Risk on 6/12/2024 12:16:00 PM Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-June 2024 A brief excerpt: This 2-part overview for mid-May provides a snapshot of the current housing market. I always like to start with inventory, since inventory usually tells the…
by Calculated Risk on 6/12/2024 11:30:00 AM The Cleveland Fed released the median CPI and the trimmed-mean CPI. According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.2% in May. The 16% trimmed-mean Consumer Price Index increased 0.1%. “The median CPI and 16% trimmed-mean CPI are measures of core inflation…
by Calculated Risk on 6/12/2024 08:50:00 AM Here are a few measures of inflation: The first graph is the one Fed Chair Powell had mentioned when services less rent of shelter was up around 8% year-over-year. This declined, but has turned up recently, and is now up 5.0% YoY. Click on graph for larger image….
by Calculated Risk on 6/12/2024 08:30:00 AM From the BLS: The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in May on a seasonally adjusted basis, after rising 0.3 percent in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.3 percent before…
by Calculated Risk on 6/11/2024 07:11:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Wednesday:• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 8:30 AM, The Consumer Price Index for May from the BLS. The consensus is…
by Calculated Risk on 6/11/2024 02:15:00 PM The key economic report this week is May CPI to be released tomorrow. The consensus is for 0.2% increase in CPI (up 3.4% YoY unchanged from April), and a 0.3% increase in core CPI (up 3.5% YoY, down from 3.6% YoY in April). From BofA: After averaging 0.4%…
by Calculated Risk on 6/11/2024 08:11:00 AM Due to Memorial Day, the U.S. hotel industry reported lower performance results from the previous week but slightly positive comparisons year over year, according to CoStar’s latest data through 1 June. … 26 May through 1 June 2024 (percentage change from comparable week in 2023): • Occupancy: 62.0%…
by Calculated Risk on 6/10/2024 06:26:00 PM From Matthew Graham at Mortgage News Daily: Mortgage Rates Slightly Higher to Start Pivotal Week The event calendar ramps up quickly from here and Wednesday will be the most important day of the month due to the release of pivotal inflation data and an updated rate announcement and…