ICE and Cotality both show that home prices across the country have risen 2.0% year over year. Cotality’s forecast for appreciation for the next 12 months has dropped from 4.9% to 4.3%, which is still above average. That’s just over $20,000 in yearly appreciation for the average homeowner, which is over $1,600 in monthly gains.
The JOLTS report calculated that there were 191,000 additional job openings posted this month, bringing the total postings to 7.39M. That increase in employment opportunities may lead to increased wages as companies fight for the same workers, or if postings continue to elevate but hirings stagnate, we’ll see disinflation as wages and earnings stagnate. More data on the labor market will be released later this week.
