Investors will be talking inflation again this week with the latest read on consumer prices due to arrive on June 10. Our brokers should know that economists anticipate that headline inflation will be 8.2 percent, year over year, for May versus 8.3 percent in April and see the “core” Consumer Price Index (after backing out food and energy costs) trickling down to 5.9 percent from 6.2 percent. Some analysts are holding open the possibility of a relief rally ifthere is no upside CPI surprise.

But that isn’t necessarily what Orion and our brokers are watching. We prefer to take along-term view, and June is “National Homeownership Month.” Yes, we know that every day is a “National ‘Fill-in-the-Blank’ Day,” just as every month is. But our AEs report that brokers are using that slogan as a way to remind your past and current clients that owning a home is still a goal for those who don’t own a home, and a good thing for those who already do. Our AEs continue to hear marvelous success stories from brokers about buying and financing homes.

In 2020 there were the most first-time home buyers ever in history (2.38 million). Interestingly the average age for a first-time homebuyer is 36 years old. What kind of customer experienceare lenders offering these borrowers? Although interest rates have obviously moved higher, the “experience” that is provided by brokers is independent of the level of interest rates. Rates hit a high of nearly 18.5 percent in October1981, and yet lenders continued to lend money to a very satisfied borrower base.

In the first month of January 2021, more than 993,000 new houses were sold in the US. This is an increase of 4 percent compared to previous month and an increase of 19.3 percent compared to one year before. Recent figures show that, due torates, home sales have quieted some what. But yet 85 percent of Gen Zer’s plan to own their first home by the age of 35.

Numbers continue to tell the story. There are an estimated 18.9 million vacant homes in the United States of America. The median price of a home in the U.S. is now $408,100, which is $85,500 more than it was in Jan. 2020, according to price information from the St. Louis Fed.

Highest average sales price of single-family homes is USA by region: West with $448,700. And the number of “million-dollar cities” with home listing values exceeding an average of $1 million has tripled since 2020.

These numbers continue to change, and aren’t necessarily important for brokers to memorize. In fact, your clients may not even care. But what is important is for Orion’s brokers to remind your past, present, and future clients about the importance of home ownership, and that ties into the fabric of the community, and how it is a fine way to build wealth. And that’s what brokers and Orion are watching happen every day.

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