7 Action News went to Lexington to revisit the Lake Huron coastline which saw record high water levels in 2020. How are they doing three years later with ice levels falling?
Sales of luxury and non-luxury homes fell by more than 30 percent in the three months ending Nov. 30, with price growth nationwide slowing down, among which Californian metros saw some of the biggest sales declines, according to real estate brokerage Redfin.
where you are seeing very high office vacancy rate, which means that people do not have to live so close to city, and they are going to the other cities. so in some markets, there would be some meaningful price decline. but we think that especially in the city along the southern states, atlanta, you look at the arkansas or rally in north carolina, you ll probably see some continuing price growth, even though it will be a moderate price growth for the simple reason that they have a stronger job creation, affordability is there, and you have people moving in from other states coming into this area. so all real estate is local, but overall, nationwide, i see more as a price stabilization in this year. and how do you think that s going to affect the economy more broadly? the housing lease the economy. the economy has been struggling along, because home builders have cut back on production, but
there march. this is obviously much better than that. this is the lowest level in 15 months. now not surprisingly, food and energy do remain high. anyone who has been to a grocery store or a gas station knows that. but in some other areas prices are declining. we saw a month over month price decline for passenger vehicles. it is the biggest drop that we ve seen in more than five years. that is is more sign that some of these supply chain problems, the computer chip shortage is easing. these are price that we don t see at store but businesses do pass along to consumers. now markets love this number. as soon as it came out, we saw stock futures go straight up as we speak the dow is up 250 points, almost 1%. even bigger gains for the nasdaq. kate, this is feeding some hope on wall street that hopefully the federal reserve is going to