Market News

Pending sales in the luxury segment of the housing market have fallen to their lowest level nationally in more than a decade. Luxury housing prices were up 6.5% year over year as of April, and pending sales were down about 10%, that's about three times the decline of pending sales observed within the non-luxury housing market.

Mandated return-to-office levels are at their highest point in the last three years, with 56% of human-resources leaders saying their companies had such policies now in place. The percentage of organizations without a mandated policy dropped from 12% in 2023 to just 5% this year.

United and JetBlue are partnering, expanding JetBlue’s reach and allowing United to resume JFK flights.

Honeywell International HON 2.00%increase; green up pointing triangle is adding an executive from activist investor Elliott Investment Management to its board ahead of the industrial conglomerate’s split into three companies.

RealPage is facing dozens of price-fixing lawsuits and class actions from state regulators and private plaintiffs. The Justice Department is also suing the company and several major landlords that use its software alleging its pricing software enables illegal landlord collusion, causing rent spikes.

Sales of previously owned homes in April fell 0.5% from March to a seasonally adjusted, annualized rate of 4 million units- the slowest April pace since 2009. There were 1.45 million homes for sale at the end of April, which at the current sales pace represents a 4.4-month supply- the highest level in five years.

Private-equity funds have been holding on to past investments longer, drying up cash flow back to investors in those funds. This hinders the deployment of funds for new deals.

There were more $30 million-plus home sales below 34th Street in the past five years than in the previous decade. Since 2023, the area has seen more than $1 billion worth of home sales above $20 million.

Publicly held federal debt stands at about $29 trillion, nearly double the level when Trump signed his original tax cut in 2017.

Among metropolitan areas especially reliant on higher education, three-quarters of them suffered weaker economic growth between 2011 and 2023 than the U.S. as a whole. In the prior decade, most of these same metro areas grew faster than the nation did.