Journal Article

Housing Services Inflation May Decline Only Gradually

Abstract: The inflation rate for housing services remains about 2 percentage points above its 2019 level. Several factors are likely to slow its decline, including more than a decade of underbuilding prior to the pandemic, limited capacity to increase the nation’s housing stock, and the limited number of homes available for sale due to the steeper mortgage rates owners would face if they sold and purchased a different home.

Keywords: inflation rate; mortgage rates; Great Recession;

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Bibliographic Information

Provider: Federal Reserve Bank of Kansas City

Part of Series: Economic Bulletin

Publication Date: 2024-06-24

Pages: 4