Home prices in March were 13.2% higher, compared with March 2020, according to the S&P CoreLogic Case-Shiller National Home Price Index. That’s up from the 12% annual gain in February, and it marks the 10th straight month of accelerating home prices. The March gain is the largest since December 2005 and is one of the largest in the index’s 30-year history. Prices are being pushed higher by incredibly strong competition in the market. High demand is butting up against near record-low supply, resulting in bidding wars for the vast majority of listings. Cities with the strongest price gains continue to be Phoenix, San Diego and Seattle.
U.S. consumer confidence was little changed in May as consumers’ short-term optimism of conditions retreated on expectations for decelerating growth and softening labor market conditions in the months ahead. The Conference Board said on Tuesday its Consumer Confidence Index dipped to a reading of 117.2 this month, following a reading of 117.5 in April.
Oregonians receiving regular unemployment benefits must start looking for jobs by July 31 to keep receiving their weekly payments, reinstating a requirement that had been on hold during the pandemic. With Oregon employers facing a labor shortage, the state announced last week that benefits recipients soon would have to show that they’re actively seeking work to keep getting their money.