Weekly Market Observations - February 28, 2023
Here’s Our Weekly Market Observations :
NAR reports pending home up 8.1% in January, the 2nd consecutive monthly increase
Inflation increases steam again as consumer prices rise 0.6% from December to January and 5.4% YOY
Insurance (up 17%) and turnover (up 15%) make up the two largest YOY cost increases for multifamily properties
Opendoor’s losses doubled in Q4 as revenue declined 25%
Average 30yr fixed mortgage rates up again to 6.50%
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