Fla.’s May Housing: Inventory Up, Median Price Flat
Florida Realtors: YOY single-family home median price flat at $419.9K, supply at 2.7 months. YOY condo median price up 0.9% to $325K, supply stands at 3.6 months.
Mortgage Rates Decline a Bit, Hit 6.67%
It’s the third weekly drop in a row and down from last week’s average of 6.69% for a 30-year, fixed-rate mortgage. A year ago, rates were 5.81%.
Inflation Isn’t as Bad as It Looks
The widely used CPI compares year-to-year prices, so if prices were steady for one year but saw a 10% increase in Jan., the next 12 months’ CPI would reflect 10% too.
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