Housing prices contributing to inflation

Market Overview

Year To Date Performances:

1. Housing prices (shelter) are currently the largest contributor to inflation. Despite being the largest inflation contributor, the persistently high shelter prices are actually good news. Typically, the shelter index lags behind and is projected to soften in the months ahead. Real-time indicators already suggest a dip in shelter prices. Zillow's All-House Rent Index reports that rental inflation has dropped below 5% for the first time since 2021. In addition, Redfin's measurements show that nationwide rents in May declined by 1% from the previous year, marking the biggest fall and the first annual drop since March 2020.

2. 63% of fund managers predict that markets will decline in the next 12 months. This comes as cash levels are at their lowest in 18 months and 60% of financial analysts expect more interest rate hikes from the federal reserve.

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