March Consumer Confidence Plunges on Inflation Fears, War in Ukraine
About a quarter of respondents cited the Russian invasion of Ukraine when asked about their economic outlook, the survey said.
About a quarter of respondents cited the Russian invasion of Ukraine when asked about their economic outlook, the survey said.
House hunters are contending with a shortage of available properties, as well as rising mortgage rates, NAR says in a report.
Sales of new houses in January retreated for the first time in three months as higher mortgage rates eroded buying power.
Demand for real estate is high as consumers try to buy homes before financing costs rise further, said NAR's Yun.
Housing starts plunged by 4.1% last month as Omicron worsened shortages of labor and building supplies.
Homebuilder confidence declined in February, the second consecutive monthly drop, the National Association of Home Builders said.
Consumer confidence fell in February to a one-decade low as higher rates of inflation increased grocery store bills and energy costs for Americans.
Some shoppers have put off purchases, some have canceled, and others have moved up their buying plans, Redfin said in a report.