RealPage Economy Express Episode 30

by   Arben Skivjani
  Posted   June 28, 2024
  in   Economy Express ,   Insights

Episode 30: Economic indicators suggest caution due to inflationary pressure.

  • The U.S. Leading Economic Index, which is an early indication of where the economy is headed, fell 2% between November and May, pointing to a continued downward trend. One of the main contributors to this decline was the reduction in building permits.
  • The University of Michigan’s consumer sentiment index dropped in June, due to concerns about high inflation rates.
  • Building permits in May declined 3.8% from April and were 9.5% lower than a year earlier.
  • Housing starts fell 5.5% month-over-month as of May and were down 19.3% compared to May 2023.
  • Existing-home sales decreased 0.7% in May, but median sales prices reached a record high of $419,300.
  • The economic trajectory for the rest of 2024 will likely depend on consumer confidence and adjustments in the housing market.

For more information on the state of the U.S. Economy, including forecasts, watch all the episodes of the Economy Express series.

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