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Economic Pulse: Week of 7/5/24

The housing market has stalled.

The housing market went through explosive growth after a short slowdown at the beginning of the pandemic. The number of existing homes sold nationally was around 5.5 million annually; it exploded to 6.6 million by early 2021, more than a million units above its pre-pandemic level. Prices rose rapidly from $316,000 to $381,000, a 21% increase. Sales volume started to drop in 2022 due to higher prices; however, prices continued to rise.

Click here for the latest Lehigh Valley Economic Review.

Listen to Economic Pulse Fridays at 5:44 PM during All Things Considered; Mondays at 7:30 AM during Morning Edition.

(Original air-date: 7/5/24)

Dr. Kamran Afshar has a Ph.D. in Economics and has taught at graduate and under graduate levels between 1978-88. He has vast experience in economic impact studies, feasibility studies, customer satisfaction surveys, and scientific competitive analysis.
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  • Federal Reserves is holding its lending rate constant. Dr. Kamran Afshar takes a look at this and more in his synopsis of this week's economic news and trends across the Lehigh Valley and nation.