- Consumer inflation data in June saw core prices rise 0.1%, the smallest gain since August 2021, supporting Fed policy rate cuts later this year.
- In his remarks to Congress, Fed Chair Powell acknowledged the labor market is showing signs of softening, also supporting Fed policy rate cuts.
- Applications for unemployment dropped more than expected last week to the lowest level since late May but still came in at 222K for the week.
- Realtor.com reported 2 buyer-friendly shifts in June: continued rising inventory and 2 days longer on the market for median homes.
- Single-family rents have risen by 39.6% since the pandemic began in March 2020 and are showing signs of increasing further.
- The median gross income for Realtors with at least 16 years of experience rose from $80,700 in 2022 to $92,500 in 2023, according to the NAR.
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