Essex County January Housing Report 1/12/2023
Federal Reserve Will Likely Slow Their Drop In Interest Rates due to the
December Rise in Both the Consumer Price Index and Core Inflation
Both the CPI and CPI Core Inflation Indexes rose by 0.3% in Dec. Annual CPI rose by
3.4% and Core Inflation rose by 3.9%, almost twice the Federal Reserve’s goal of
2%. 30 year fixed rate mortgages today are 6.69% per Mortgage News Daily.
Bottom Line for Singles Families, Condos and Multi-Family:
Record low inventories continue to support housing prices, although there was a
softening in single family prices when comparing December to November 2023,
but both condos and multi-families had modest price increases.
- To view data for every Essex County town, http://www.sullivanteam.com/Properties/Reports/Public/Charts.php
- To Download the full housing report go to: http://sullivanteam.com/pages/EssexCountyHousingReports
