FHFA April Price Index Up 3.1% Year-to-Year
Month-to-month, prices rose 0.7% nationally – though it ranged from a price drop of 3.8% in the Pacific region to an increase of 6.1% in the East South Central region.
New Home Sales Jump 12.2% Higher in May
Faced with a dearth of existing homes for sale, buyers flocked to new-home options even in the shadow of higher interest rates.
Consumers Notably More Confident this Month
If consumer attitudes drive the economy, a recession appears less likely. The Consumer Confidence Index hit 109.7 in May, up from April’s 102.5.
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