A new study by Boulder Home Source analyzed data from Zillow for the past five years, across all 50 states to determine which state had seen the smallest rise in house prices.
Residential Nordics, Residential North America and the commercial segment within healthcare and education continued to be strong, while sales in western and southern Europe slowed sharply. The company said it will adjust its production capacity to meet lower demand in 2023.
Beginning in the first quarter of fiscal 2023, The Home Depot will invest an additional approximately $1 billion in annualized compensation for frontline, hourly associates.
Despite inflationary headwinds, January retail sales show the resiliency of consumers in how they manage their budgets and make decisions on how, when and where to spend their hard-earned dollars, said NRF President and CEO Matthew Shay.
It is possible to sidestep a recession, but when the economy slows it becomes very fragile and the risk rises significantly, said National Retail Federation Chief Economist Jack Kleinhenz.
All the news shows there’s a slowdown in the residential sector, but speaking to industry leaders—retail, distribution and manufacturing—tells me that getting serious about strategy might make it all okay.
Rising mortgage rates, high inflation, low existing inventory and elevated home prices contributed to housing affordability falling to its lowest point since the Great Recession in the second quarter of 2022.
