US Bureau of Labor Statistics

The consumer price index revealed that prices increased 8.3 percent in August from the previous 12 months, according to the Bureau of Labor Statistics. This jump sustains the largest year-over-year increase in the last two decades for prices. Pricing has become a challenge for agents across the nation; in many markets price reductions are common. In a shifting market like this, brokerages and agents should carefully forecast their local markets with the best data available to best serve their buyer and seller clients.