Consumer News: Homes getting harder to afford, record number of Americans leaving their jobs and more
Consumer News with ABC Columbia is brought to you by Grow Financial.
CNN– The National Association of Realtors says homes got even pricier and harder to afford in most U.S. cities in the first quarter of 2022. Of the 185 metro areas tracked, 70% saw double-digit growth in home prices compared to the same quarter last year. Overall, the median price of a single-family home in the U.S. was just over $368,000 in the first quarter, up nearly 16%. With higher home prices and higher mortgage rates, affordability took a big hit too.
CNN– Millions of Americans are jumping on the bandwagon, joining the great resignation and quitting their jobs. The federal government says a record 4.5 million workers left their jobs in March.
That increased most significantly in the professional and business services sector, as well as construction. Available jobs also rose, climbing to 11.5 million. That’s the highest level since the data series began in December of 2000. That means there’s nearly two job openings for every worker looking for a job.
CNN– Mother’s Day spending is expected to hit another record-breaking high this year, with more people spending more money to show appreciation for the moms in their lives. That is despite inflation rising to a new 40-year high. So, what are the top three gifts pushing up spending in 2022? Jenn Sullivan has the answers.
