Facebook Twitter Instagram
    Trending
    • The “Buy Now, Pay Later” Generation
    • For 11th year in a Row Americans Choose Real Estate as Best Investment
    • Top 10 Zombified Zip Codes in Mid 2023
    • Understanding Bad Debt Loss Deductions
    • A Rent Control Renaissance Is Underway
    • U.S. Construction Spending Up 1.2% in April ’23
    • FHFA Says Home Prices Up 4.3% Year-Over-Year
    • S&P CoreLogic Case-Shiller Reports a Small Price Gain in March
    Twitter
    Real Estate Investing Today
    • Home
    • RE Journal
    • ROI Magazine
    • National REIA
      • National REIA
      • Find a REIA near you!
    • Podcasts
    • Housing Data
    • Contact Us
    Real Estate Investing Today
    You are at:Home»Economics»Local Market Monitor’s National Economic Outlook for May ’23

    Local Market Monitor’s National Economic Outlook for May ’23

    0
    By Brad Beckett on May 23, 2023 Economics

    Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy.

    National Economic Outlook
    By Ingo Winzer

    May, 2023

    From the point of job creation, the national economy seems to be flying high; jobs in April were up 2.6 percent over last year. But a closer look shows that the pace of growth is slowing as more jobs lost to the pandemic have been regained. The actual rate of new job creation, rather than just recovery, may be closer to the 1.5 percent annual pace that prevailed for years before the pandemic hit.

    The latest Gross Domestic Product estimates bear this out. Adjusted for inflation, GDP in the first quarter was up 1.6 percent over last year, a very modest gain. And the latest population estimates show a gain of just 0.4 percent in 2022, of which 0.3 percent was due to immigration; the increase of births over deaths was just 0.1 percent. A stagnant population won’t produce a vibrant economy.

    These observations indicate weak support for real estate markets in the next few years, both residential and commercial. Home prices already are lower than last summer and could easily fall 10 percent or so in the next year, with more to come after that.

    The 2.6 percent growth of jobs in April included gains of 2.7 percent in construction, 1.7 percent in manufacturing, 0.2 percent in retail, 1.0 percent in finance, 2.3 percent in business services, 3.7 percent in healthcare, 5.4 percent at restaurants, and 2.1 percent in government.

    Have questions that you would like to have answered in the next NEO presentation? Please submit questions here.

    Click here for more information about Local Market Monitor.

     

    Share this:

    • Click to email a link to a friend (Opens in new window)
    • Click to print (Opens in new window)
    • Click to share on Twitter (Opens in new window)
    • Click to share on Facebook (Opens in new window)
    • Click to share on LinkedIn (Opens in new window)
    • Click to share on Pinterest (Opens in new window)
    • Click to share on Reddit (Opens in new window)

    Related

    Brad Beckett
    • Website
    • Facebook
    • Twitter

    Director of Education & Outreach, National Real Estate Investors Association

    Related Posts

    The “Buy Now, Pay Later” Generation

    For 11th year in a Row Americans Choose Real Estate as Best Investment

    Top 10 Zombified Zip Codes in Mid 2023

    Comments are closed.

    Emergency Rental Assistance
    Action Alert HR 5013 – Seller Finance
    https://youtu.be/WP-IAtGnPsQ

    Click here to visit the National REIA Legislative Action Center.

    Stay Informed!

    Simply enter your email address in the space below to receive our latest posts right in your mailbox! It's FREE!

    Join 882 other subscribers
    Podcasts
    podcasts
    Survey of the Quarter:
    • Most Recent Posts
    June 9, 2023

    The “Buy Now, Pay Later” Generation

    June 8, 2023

    For 11th year in a Row Americans Choose Real Estate as Best Investment

    June 7, 2023

    Top 10 Zombified Zip Codes in Mid 2023

    June 7, 2023

    Understanding Bad Debt Loss Deductions

    Benefits of Joining National REIA
    Click here to find a REIA!
    The Latest issue of the RE Journal
    Follow us on Twitter: @REI2Day
    My Tweets
    Keyword Search
    Real Estate Investing Today
    National Real Estate Investors Association
    2755 Mansion Place
    Crestview Hills, KY 41017
    888-762-7342
    www.NationalREIA.org
    Top 100 Real Estate Investing Blogs & Websites on the Web
    Categories
    About Real Estate Investing Today

    Real Estate Investing Today is the news aggregation site for the National Real Estate Investors Association (NREIA) and features news & industry updates to help investors stay informed. Learn more at www.NationalREIA.org

    Media Inquiries

    Media Inquiries Click here

    Copyright 2023 Real Estate Investing Today

    • Home
    • News
    • Legislative
    • Market Trends
    • Residential
    • Data
    • Rentals
    • Crowdfunding
    • Legal
    • Regulations & Taxes
    • Infographics
    • Technology
    Copyright 2022 Real Estate Investing Today
    • Home
    • News
    • Legislative
    • Market Trends
    • Residential
    • Data
    • Rentals
    • Crowdfunding
    • Legal
    • Regulations & Taxes
    • Infographics
    • Technology

    Type above and press Enter to search. Press Esc to cancel.