RealPage Economy Express Episode 20

Episode 20: Cautious optimism for 2024?

  • Pending home sales increased by 8.3% in December, indicating robust demand in the for-sale market.
  • The Federal Reserve’s preferred measure for inflation, the Personal Consumption Expenditures price index, increased by a slight 0.2% in December, with a year-over-year increase of 2.6%.
  • Consumer sentiment surged by 13% in January, marking the highest level since July 2021.
  • Apartment rent growth has moderated to less than 0.3% annually over the last six months due to an increase in new apartment units and other factors.
  • The U.S. job market remains robust, maintaining an unemployment rate of 3.7%.
  • While the Fed does not intend to lower the federal funds rate in their upcoming March meeting, rate cuts are anticipated in the second half of the year.
  • The economic landscape in 2024 presents opportunities and challenges, with cautious optimism on near-term prospects.

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