Pop: Home prices in the US are falling

3/21/23 8:00PM

Pop

‍Just over 2 weeks ago, we charted about how the combination of higher borrowing costs and still-elevated home prices had created one of the least affordable housing markets in modern history for would-be buyers.

However, data out this week from the NAR revealed that some of the air is coming out of the market, as existing home prices fell 0.2% in Feb 2023 (vs. Feb 2022), breaking an 11-year-streak of continuous annual increases.

Interestingly, the number of homes sold jumped some 14.5% in February. That suggests there is demand from those waiting on the sidelines, standing by for any favorable fluctuations in the mortgage market, where interest rates still hover around 7%. As Fortune put it, the real winners of the pandemic may be the home-buyers who managed to lock in a mortgage rate around 2%.

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The most watched soccer match in US history got less than a third of the views the Super Bowl did

Between a top-spot finish in the group stage, a sweeping performance against Bosnia and Herzegovina in the round of 32, and the president’s controversial intervention, Monday evening’s USMNT game against Belgium had, to put it lightly, shaped up into a box-office clash.

And though the US players’ performance on the pitch might not have lived up to the high drama off it, American soccer fans certainly showed up. According to early estimates, the 4-1 defeat against Belgium was the most watched soccer telecast in US history, hauling some 40 million viewers on average across the coverage on Fox and Telemundo.

That may be a record tally in the US for the sport that much of the world calls some variant of “football” — besting the 36.2 million who tuned in to watch the team’s previous knock-out match — but it’s still peanuts in comparison to the sport that shares the same name in the States.

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45% of Americans say they’re not taking a summer vacation this year, mostly due to costs

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