RealPage Economy Express Episode 17

Episode 17: What’s in store for 2024?

  • With high mortgage rates and limited inventory, pending home sales declined 1.5% in October, according to the National Association of Realtors. 
  • Residential construction spending increased 0.6% in October, the U.S. Census Bureau reports.
  • The U.S. economy added 199,000 jobs in November, indicating healthy growth.
  • Wages were up 4% year-over-year, adding money to employee pockets but also raising inflation concerns.
  • The consumer sentiment index surged by 13% in December, a positive sign that Americans are feeling good about the economy.
  • Retail sales showed a 0.3% increase in November, boosted by the holiday shopping season.
  • The Consumer Price Index was up by 3.1% in the past year, notably below recent norms.
  • The Fed is holding the key interest rate steady and indicated plans for slow rate cuts in 2024, aligning with easing inflation and stable economic conditions.
  • Looking ahead to 2024, the economic environment appears to be a mix of robustness and obstacles.
  • Recent trends suggest a slowdown rather than a recession in the coming year.

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