RealPage Economy Express Episode 40

by   Arben Skivjani
  Posted   December 6, 2024
  in   Insights ,   Economy Express

Episode 40: Consumer confidence is up and the construction and housing sectors are showing sustained growth.

  • Construction spending in October showed a modest monthly increase, leading to 5% year-over-year growth.
  • Private and public investments in construction are gradually improving, with residential construction rising 1.5%.
  • Existing-home sales rose 3.4% in October, marking the first year-over-year gain since July 2021.
  • Pending home sales increased, continuing a three-month upward trend.
  • The S&P CoreLogic Case-Shiller Index indicated a 3.9% annual increase in U.S. home prices in September.
  • The labor market added 227,000 jobs in November, rebounding from disruptions caused by severe weather and labor strikes.
  • The Federal Reserve’s preferred inflation gauge (the personal consumption expenditures price index) rose to 2.3% annually in October.
  • Consumer confidence increased again in November, driven by improved perceptions of the labor market and economic conditions.

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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