Inflation rates - both general and "core" - ticked down (slightly) on the May 15th reading for April. Stock and bond markets reacted very favorably.
Daily Average 30-Year Mortgage Rate - slipped back under 7% on May 15th for the first time since early April.
Financial Markets: After a very volatile 5 weeks - from the 4/10 inflation reading to the 5/15 reading - stock markets hit new all-time highs yesterday:
Bay Area Appreciation & Market Cycles since 1990, updated: Link to the full flipbook report. The folder with the downloadable pdf report and individual slide images is here. Below is the summary overview chart, a very approximate, smoothed-out graph of overall Bay Area appreciation trends.
The report includes over a dozen other charts that break out approximate median house sales price changes by county during specific market cycles, such as the one below.
Consumer Sentiment (Confidence) Index: “Consumer sentiment retreated about 13% this May [preliminary reading as of 5/10] following three consecutive months of very little change... [bringing] sentiment to its lowest reading in about six months. This month’s trend... is characterized by a broad consensus [of economic concerns] across... age, income, and education groups.” Joanne Hsu, Director, Surveys of Consumers, 5/10/2024
National house price and rent appreciation rates since 1980: A dramatic divergence since the pandemic hit (as well as previously during the subprime boom).
The Price of Gas: An issue that consumers are very sensitive to.
