February 2024 Compass National Real Estate Insights

February 2024 Compass National Real Estate Insights

Compass February 2024 report highlights on home prices, sales, listings, cash purchases, interest rates, and inflation.

Interest rates are well below those seen late last year, but have started ticking up in mid-February.
 
Chart of weekly 30-year mortgage rates in 2023–2024, peaking near 7.8% in October and ending at 6.9%.
 
Through February 22nd, stock markets have continued to rebound dramatically, deeply impacting household wealth - especially among more affluent buyers.

S&P 500 index chart from 2014 to 2024, with green bars and annotations for the pandemic and 2023.
 
Having plunged from its peak in mid-2022, the inflation rate has not dropped as quickly as expected in recent months, a big factor in mortgage interest rates.
 
Chart of U.S. inflation, with red CPI bars and a white core CPI line from 2021 to January 2024.
 
As a percentage of total sales, the share of transactions being completed by buyers paying all cash has continued to climb.
 
Chart shows the U.S. share of all-cash buyers rising to 32% in January 2024.
 

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