Real Estate Newsletter Articles this Week: New Home Sales Increase to
693,000 Annual Rate in March
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At the Calculated Risk Real Estate Newsletter this week:
• New Home Sales Increase to 693,000 Annual Rate in March
• Lawler: Observations on the Recent Sur...
2022-08-10
CPI Propped Up by Lagging Housing Data
Back in June I posted Vertical Home Price Move Ending. Shelter is 32 percent of the CPI. Owner's equivalent rent (OER), a fabrication created by the BLS to replace home prices, is 23 percent of the CPI or 72 percent of the shelter component. Since shelter was up 0.5 percent in July, it was 0.16 percent of the CPI reading. Home prices peaked in May though and have begun falling. Eventually, OER will slide as well, but it could still take some time.
Labels:
inflation,
real estate,
USA
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