Here is your home news digest to start the week. For a full report, including news about the Farmer's Almanac's spring weather predictions, check out our weekly news report.
🌀 Hurricane season doesn’t officially start until June 1, but experts warn that storm seasons can be unpredictable and start early. This has been true in recent years, including in 2016 when Tropical Storm Bonnie made landfall in late May, and in 2012 when Tropical Storm Beryl struck Florida at near-hurricane strength before Memorial Day weekend. The warning comes after the National Hurricane Center identified a low-pressure system in the Atlantic.
🏡 The real estate market continues to be a market of contradictions. The Fed held interest rates steady at around 4.5 percent this week after the Federal Open Market Committee's March meeting, meaning that mortgage rates are also unlikely to budge from just below the 7 percent mark. The Fed still anticipates two cuts this year, but it has downgraded its economic growth outlook given consumer uncertainty, economic volatility, and rising prices. Despite that, home sales rose 4.2 percent in February. Experts believe that buyers and sellers were waiting until mortgage rates came down in time for real estate's busiest season, but no dice—and with no rate reduction in sight. Impatient buyers sprung for houses on the market in February, beating home sales expectations.
👩‍🍳 This kitchen island trend screams luxury, but you might have to squint to see it. Enter kitchen islands with mitered edges, a feature that makes the material look thicker, sturdier, and more expensive.
- Sophie Kaemmerlé, Executive Editor
