Weekly Market Observations — February 14, 2023

Here’s Our Weekly Market Observations :

Inflation higher than expected with CPI in January increasing by 0.5% since December and 6.4% YOY

Every major California market sees apartment occupancy fall

7 of 10 markets with largest home price gains in Sunbelt states

Wall street betting on housing market recovery

Aging US housing stock averages 40 years with older homes concentrated in northeastern and Pacific coast states

Average 30yr fixed mortgage rates up slightly to 6.12%