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Palomar Press Briefing | June 8, 2022

 

 



 INDUSTRY NEWS

June 8, 2022

THE PALOMAR GROUP INVITES YOU TO BUSINESS AND BREWS ATL – TOMORROW – RSVP

Kickstart the summer with us at SweetWater Brewing Company on Thursday, June 9th from 4:00-7:00 PM. We look forward to seeing you! Please let us know if you plan to attend.

HOME PRICES SURGED OVER 20% IN MARCH AS INTEREST RATES ALSO ROSE, ACCORDING TO S&P CASE-SHILLER

Rising mortgage rates did not slow down rising home prices in March. Nationally, home prices were 20.6% higher than they were in March 2021, according to the S&P CoreLogic Case-Shiller Home Price Index. That is higher than the 20% gain in February.

CRE PRICE GROWTH IS SLOWING BUT STILL GOING

In science and engineering it’s the difference between what calculus calls the first and second derivatives: how fast something is changing and then the shift in that rate of change. For commercial real estate properties overall, April was good news in the former and, depending on the view, less happy tidings for the latter, according to Real Capital Analytics.

‘SOFT LANDING REPORT ALERT’: ECONOMISTS REACT TO THE MAY JOBS REPORT ON TWITTER

Nonfarm payroll employment beat expectations and added 390,000 jobs in May, the U.S. Bureau of Labor Statistics reported Friday. The unemployment rate remains at 3.6%, well below May 2021, when it was 5.8%.

17 STATES WHERE UNEMPLOYMENT IS AT RECORD LOWS

The unemployment rate in 17 states concentrated in the Midwest, South and Mountain West reached a record low in April, a sign of an unusually tight labor market. The milestone in those states marks a sharp reversal from the spring of 2020, when the Covid-19 pandemic drove unemployment to record highs in 15 of those states, according to Labor Department data tracing back to 1976.

FED ‘BEIGE BOOK’ FINDS ECONOMY MODERATING, CONCERN ABOUT THE FUTURE

The U.S. economy is continuing to expand, though moderately, in most regions, according to regional surveys conducted by the Federal Reserve Board released on Wednesday. The “beige book” paints a portrait of an economy facing the headwinds of high inflation, supply chain issues and a general uncertainty about the future.

 

 

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