All Eyes on the CPI Data But Keep in Mind That Real Estate Inflation Is Falling Fast

Evidence mounts that all the looming income tax refunds will be eaten up by the Trump tariffs.

Key Takeaways

• CPI Takes Center Stage as Housing Disinflation Deepens: The key today is the January CPI report, and the market is already bracing for a relatively hot +0.3% print on the headline and core indexes. Keep in mind that January is typically skewed higher by price resets in the health care and insurance industries. What is key is the renewed disinflation we are seeing across the real estate space — home prices, commercial real estate values, and construction costs… right across the board.