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- 🚀 Home Prices Surging
🚀 Home Prices Surging
Market Overview
Read time 1.4 minutes
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Home prices in the U.S. surged 6.4% year over year in February, marking the fastest growth rate since November 2022, as reported by the S&P CoreLogic Case-Shiller national home price index. This rise follows a 6% annual increase the previous month, driven by strong demand and a tight supply despite rising mortgage rates. The 10-city and 20-city composites also saw gains, with certain cities like San Diego and New York reaching all-time highs. Economists note that the return to office work might boost home values in major Northeast cities. The price increases occur as mortgage rates have risen nearly a full percentage point since December amid ongoing economic uncertainties and persistent inflation, which dampens hopes for significant Federal Reserve rate cuts this year.
The Eurozone has emerged from near recession, showcasing a 0.3% GDP growth in the first quarter—the strongest in 18 months—propelled by its four largest economies and supported by improving global demand. Despite this growth, inflation remained steady at 2.4% annually as of April. Germany has been a significant driver of this recovery, and with the European Central Bank (ECB) expected to ease monetary policies starting in June, further economic improvement is anticipated. Although the region faced challenges, the performance of Germany, France, Italy, and Spain exceeded expectations, leading to optimistic growth forecasts by the ECB of 0.6% for 2024 and 1.5% for 2025.
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Headlines
Mcdonald's had weaker-than-expected results in Q1 due largely to the conflict in Israel and rising prices.
Domino's saw an increase in purchases from low-income customers as pizza became the top-growing fast food of choice for the group.
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Onwards and Upwards,
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