Reported about 1 year ago
Shelter prices rose 0.4% in May, contributing to a 5.4% year-over-year increase in the latest CPI data. Ivy Zelman, the CEO of Zelman and Associates, notes that multi-family rents are re-accelerating, while single-family rents are firming. She suggests that existing home turnover is declining due to backing up rates and affordability constraints, which could impact the US housing market and the Federal Reserve's interest rate policies. This data indicates a shift in the market, influencing the Fed's interpretation of housing inflation.
Source: YAHOO