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Housing Services Inflation May Decline Only Gradually

Author

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  • Jordan Rappaport

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.

Suggested Citation

  • Jordan Rappaport, 2024. "Housing Services Inflation May Decline Only Gradually," Economic Bulletin, Federal Reserve Bank of Kansas City, pages 1-4, June.
    • Handle: RePEc:fip:fedkeb:98515
    as

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    File URL: https://www.kansascityfed.org/Economic%20Bulletin/documents/10222/EconomicBulletin24Rappaport0624.pdf
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    References listed on IDEAS

    as
    1. Ross M. Batzer & Jonah Coste & William M. Doerner & Michael J. Seiler, 2024. "The Lock-In Effect of Rising Mortgage Rates," FHFA Staff Working Papers 24-03, Federal Housing Finance Agency.
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