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BRIDGET MORRISSEY REAL ESTATE brokered by eXp Realty

Your Community Realtor in CT and RI

BRIDGET MORRISSEY REAL ESTATE brokered by eXp Realty
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02-19-2021 Housing News

Posted

Bridget Morrissey Stonington Housing News

The Economy Retail rates jumped to 5.35% to start 2021, well ahead of the 1.2% projection. Yhe result was from millions of people receiving a $600 stimulus check. The cost of goods and services surged in January raising consumer goods prices. As wholesale prices increase so do interest rates. The January Fed Meeting Minutes say that the recovery is far from where its goal is so there is little likelihood that policy will change soon.

Housing News Housing starts fell more than anticipated in January due to soaring labor costs and labor shortages. However, permits were up 10% pointing to increases in the coming months. The NAHB says builder confidence has picked up after two months of decline despite labor and lumber shortages. Strong buyer demand has helped offset these issues. Strong demand means that buyers are facing increase competition and bidding wars. The result is higher prices. 40% of buyers say they have been outbid in the housing market recently.

 

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  • Search Homes for Sale
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  • Welcome
    • Home Buyer Seminar
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    • Home Sellers
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Bridget Morrissey CT & RI Realtor

CT 0793767 RI 0034638

860-857-5165

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Only real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® may call themselves REALTORS®. All REALTORS® must subscribe to NAR’s strict Code of Ethics, which is based on honesty, professionalism and the protection of the public.

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BRIDGET MORRISSEY REAL ESTATE brokered by eXp Realty 6 Greenmanville Ave Mystic CT 06355 Call/Text 860-857-5165

eXp Realty, LLC 101 Franklin Street , RI 02891, Westerly, RI 02891

REALTOR® logo

Only real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® may call themselves REALTORS®. All REALTORS® must subscribe to NAR’s strict Code of Ethics, which is based on honesty, professionalism and the protection of the public.

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