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Palomar Press Briefing | June 15, 2022

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 INDUSTRY NEWS

June 15, 2022

We gave PGA Pro Golfer, Greyson Sigg, an Investment Sales Pop Quiz…

 

COMMERCIAL PROPERTY SALES SLOW AS RISING INTEREST RATES SINK DEALSCommercial real estate is showing the first signs of cooling in more than a year, disrupted by rising interest rates that are already causing some deals to collapse. Property sales were $39.4 billion in April, which was down 16% compared with the same month a year ago, according to MSCI Real Assets. The decline followed 13 consecutive months of increases.

MOODY’S FINDS ‘LITTLE EVIDENCE’ OF A HOUSING BUBBLE

While home prices are responding to higher mortgage rates, there is “little evidence of a housing bubble that is about to burst,” according to a new report from Moody’s Analytics. The lowest tier of the housing market appreciated by 17.2% in the past year alone, placing an extreme burden on first-time buyers.

INFLATION ROSE 8.6% IN MAY, HIGHEST SINCE 1981

Inflation accelerated further in May, with prices rising 8.6% from a year ago for the fastest increase since December 1981, the Bureau of Labor Statistics reported Friday.The consumer price index, a wide-ranging measure of goods and services prices, increased even more than the 8.3% Dow Jones estimate.

CONSUMER PRICES ROSE RAPIDLY IN MAY 

Prices climbed 8.6 percent in the year through May, a reacceleration of inflation that makes it increasingly difficult for consumers to afford everyday purchases and poses a major challenge for the Federal Reserve and White House as they try to secure a strong and stable economy.

 

 

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