Democrats Will Spend $35M In House Races Targeting Voters Of Color
Democrats will spend more than $35 million targeting voters of color in the 2024 House races.
Democrats said Tuesday they will spend more than $35 million in the 2024 election cycle to “persuade and mobilize” Black, Latino, Asian, Pacific Islander, and Native Hawaiian voters.
NBC News reports that the Democratic Congressional Campaign Committee (DCCC) announced Tuesday it would pass the $30 million spent on these groups in the 2022 midterm elections.
The DCCC has named the effort “Power to the People,” with power standing for “persuade, organize, welcoming, educate, and reach.”
While Democrats control the White House and Senate, Republicans have a 221-213 majority in the House. One seat that is up for grabs is that of former Rep. George Santos, the disgraced New York freshman rep.
For decades, Democrats have appealed to people of color to get their support. During the run-up to the 2020 presidential election, President Joe Biden recruited House Majority Whip James Clyburn, former Rep. Cedric Richmond, and former Atlanta Mayor Keisha Lance Bottoms to appeal to Black voters.
“It certainly is encouraging that they are making the hard commitment now,” Matt Angle, a Democratic strategist in Texas, where Hispanics now outnumber white residents, told NBC. “You can’t expect to realize the benefit of your base voters unless you invest in them—you have to earn that over and over again.”
According to the DCCC, some of the funds have already been spent, including researching where voters are going to get their information from and conducting targeted outreach to understand nuances between groups in different regions and localized by district.
Democratic funding will also go toward:
Conducting in-depth research and polling in the different communities to understand voters’ priorities.
Creating media that reaches people in their language of choice — including Spanglish—and for different social platforms.
Organizing with local leaders and community members to register, rally, and connect voters and build connections between local and national organizations.
Providing information on voting laws, options, and any changes that may make voting harder, as well as building up trust in voting by mail in places where it’s offered.
“The historic investments from the DCCC are a commitment to expand our coalition,” Rep. Judy Chu, the Congressional Asian Pacific American Caucus chair, said in a statement.
A$AP Rocky Enters Not Guilty Plea In Alleged Shooting Of A$AP Relli
The Harlem rapper has pleaded not guilty to two felony counts of assault with a semiautomatic firearm.
Harlem rapper, fashionista, and Rihanna’s longtime boyfriend A$AP Rocky this week pleaded not guilty to firing a weapon at former group member A$AP Relli, Rolling Stone reports.
Last November, during a preliminary hearing, Superior Court Judge M.L. Villar stated that A$AP Rocky, 35, would have to stand trial. Relli alleges Rocky shot in the direction of his former friend in a 2021 incident in Hollywood. Rocky has pleaded not guilty to two felony counts of assault with a semiautomatic firearm.
Rocky’s attorney, Joe Tacopina, who once represented former President Donald Trump, is confident that the rapper will be vindicated. He also stated that they are eager to get the trial “over with” so that the “LSD” rapper can focus on “enjoying his family.”
Tacopina is hoping that the trial will get started in September. Outside the courtroom, he also said that Rocky is “cool as a cucumber” as he prepares for his next hearing, scheduled for March 6.
“He’s a very strong character, a very strong individual,” Tacopina said.
Last year, prosecutors arrested Rocky, real name Rakim Mayers, claiming he pointed a gun at Relli and fired it twice toward him on Nov. 6, 2021, on the corner of Selma Avenue and Vista Del Mar Avenue.
According to TMZ, Relli filed a defamation lawsuit against Rocky and his attorney in September. In the suit, Relli alleged that Tacopina called him a liar, a money grabber, and an extortionist at Rocky’s direction. He said that Tacopina told TMZ and other media outlets that “Rocky didn’t commit a crime. It was an extortion attempt by a former associate, who threatened to make false, criminal accusations if Rocky didn’t pay him.”
Rocky is facing up to 24 years if convicted on the charges.
A Latte Nerve: Indianapolis Coffee Shop Bum-Rushed By ‘Pop-Up’ Wedding
Mansion Society noted that the bride offered a $200 donation to the establishment, which management rejected in an email reply to the bride.
Mansion Society, a two-year old coffee shop in Indianapolis run by a family of Mexican immigrants, recently described a strange sequence of events via its Instagram page.
According to Complex, on Dec. 31, the coffee shop experienced a pop-up wedding in the middle of serving its regular customers. While the shop is accustomed to serving wedding guests on weekends due to its location next to a wedding venue, an entire wedding party descending was not something it was prepared for.
Videos of the impromptu wedding ceremony made their way to Twitter/X alongside screenshots of the company’s response to the event, first posted to the company’s Instagram page.
Mansion Society wrote that the wedding party had no approval from the leasing manager of Central State (the building housing the coffee shop) or the 1899 building venue located next to the coffee shop, which has sent an invoice to the bride. Mansion Society does not expect payment or a response because the wedding party does not see themselves in the wrong.
Mansion Society wrote as part of a series of posts on Instagram addressing the incident, “Soon enough, there was a full bridal & groomsmen party, a wedding officiant, wedding photographers, and patrons leaving personal items including wedding gifts, coats, purses all throughout the coffee shop as they took over.”
The company continued, “We book for private events and are proud to host bridal and baby showers, engagement shoots, parties, and all sorts of private events. We are delighted to be considered beautiful enough to host any special events! The group of about 20-30 people continued to not only have a wedding ceremony but take pictures, videos, and block pathways for customers trying to enter Mansion Society. They were asking us to take costs, purses and watch personal items as if they had rented us out for a private event.”
Mansion Society had withheld video of the event out of respect for the bridal party, but since it saw no accountability from the wedding party, it released the footage via its Instagram account.
The establishment noted that the bride contacted the venue after the post and offered a $200 donation. Mansion Society in an email reply to the bride rejected the offer, informing her that the donation is insufficient to compensate them for the complete take over of their venue without prior warning.
The email reads in part, “Without asking, consideration and zero care to those patrons around you or us you proceeded to have a wedding at the coffee shop with at least 20 people. Moving sofas, chairs, end tables, cushions, etc. Leaving our staff returned everything to its place. We don’t need a donation of $200, we need you to pay the fee to use a place that you did not previously hire for a wedding ceremony or at least ask if it was okay for it to be held in our facilities. The normal rate for a weekend rental is $500 and we look forward to receiving the payment as soon as possible.”
According to the Mansion Society Instagram account, the bride had not responded to the email as of Jan. 5 and many users on Instagram sympathized with the business, describing the wedding party’s behavior as “tacky” and “disrespectful.”
In a separate post, the co-founder of the coffee shop, Zorayda Lezama thanked people for the support of her business and explained the circumstances of her team, writing, “Mansion Society is a family business where my daughter Barbie is a full time barista who welcomes and prepares coffee with love and respect for each of you. As a result of the ‘Pop Up’ wedding on December 31, two posts have been made, the first was created by the surprise and indignation of our team.”
Lezama continued, “Popular opinion has been supportive, positive & encouraging. There are some who accuse us of ruining a wedding days joy and memories. We decided to post an update because the bride offered a ‘donation of $200’ without an apology or accepting responsibility for the event without consent after the Central state building manager contacted her. As for an update, she responded ‘that’s unreasonable.’ She has not responded to our invoice.”
NBA Star Ja Morant To Miss Rest Of Season After Shoulder Injury
"Morant will undergo season-ending surgery and is expected to make a full recovery ahead of the 2024-25 season," according to the Memphis Grizzlies.
After being suspended for 25 games due to his controversial off-court activities last season, Memphis Grizzlies guard Ja Morant returned and gave his team a much-needed spark to put some hope back into this season.
Now, that spark is out until at least next season.
The Grizzlies announced the superstar guard would have season-ending surgery due to a shoulder injury.
“At Saturday’s training session, Morant suffered a subluxation of his right shoulder. Following ongoing soreness and instability, Morant underwent an MRI that revealed an underlying labral tear.
“Morant will undergo season-ending surgery and is expected to make a full recovery ahead of the 2024-25 season.”
CBS Sports reported that the team was 6-3 with Morant back in the lineup after starting the season with a dismal 6-19 record (including 1-11 at home) during his suspension.
Despite the layoff, Morant’s play was stellar. He averaged 25.1 points, 8.1 assists, and 5.6 rebounds before this bad news arrived. The team is currently 13-23, so it is unlikely that it will make the playoffs.
Last June, the NBA suspended the All-Star guardfor the first 25 games of the 2023–24 season after he was captured on social media with a firearm in his hand.
It was the second such incident after he was initially suspended for eight games in March following an incident where he was seen with a gun on an Instagram Live video at a Denver nightclub after a game against the Nuggets. Morant received his latest suspension after he was seen on a friend’s Instagram feed holding what appeared to be a gun a month before the suspension was given.
A Visionary: Honoring Business Icon Earl G. Graves, Sr., Founder Of Black Enterprise, On What Would Have Been His 89th Birthday
BLACK ENTERPRISE's founder created an ecosystem of business empowerment and, in the process, made himself synonymous with the audacity of Black entrepreneurs.
Originally Published Jan. 9, 2023
BLACK ENTERPRISE‘s Publisher Earl G. Graves, Sr., was the quintessential entrepreneur who created a vehicle of information and advocacy that has inspired four generations of African Americans to build wealth through entrepreneurship, career advancement and money management.
Born Jan. 9, 1935, Mr. Graves passed away quietly at 9:22 p.m. on April 6, 2020, after a long battle with Alzheimer’s. Graves was 85.
Graves was widely considered to be the ultimate champion of black business, launching BE in 1970 to not only chronicle the rise of African American entrepreneurs but also provide the tools for African Americans to succeed in the business mainstream and “achieve their measure of the American dream.”
In his award-winning, now classic, business bestseller, How To Succeed In Business Without Being White, Graves stated his life-defining purpose for founding BE in simple, direct terms:
“The time was ripe for a magazine devoted to economic development in the African American community. The publication was committed to the task of educating, inspiring and uplifting its readers. My goal was to show them how to thrive professionally, economically and as proactive, empowered citizens.”
Driven by that mission, Graves became a trailblazing entrepreneur in his own right, building BE from a single-magazine publishing company 50 years ago, to a diversified multimedia business spreading the message of financial empowerment to more than 6 million African Americans through print, digital, broadcast and live-event platforms. As such, BE was one of two companies that would appear on the BE 100s—the publication’s annual rankings of the nation’s largest black-owned businesses—each of its 47 years. At one point, Graves would operate two companies on the list, including Pepsi-Cola of Washington, DC, one of the nation’s largest soft-drink distributors owned by African Americans.
Graves’ influence and reach also extended into the mainstream of corporate America. One of the few African Americans to serve on the boards of major corporations such as American Airlines, Daimler Chrysler, Rohm & Hass and Federated Department Stores (Macy’s), he was a staunch advocate for African American inclusion in the C-Suite and corporate governance. Graves was also a tireless champion of major corporations doing business with black-owned companies.
Beyond business, Graves was a force in politics, civil rights, and philanthropy.
In fact, he played a pivotal role in galvanizing support for the election of the first African American president of the United States, Barack Obama, through his endorsement in BE and service as a surrogate campaigning on his behalf. Before that, Graves also championed the historic presidential bids of Rev. Jesse Jackson. Moreover, his fight for racial justice and economic parity earned him the NAACP Spingarn Medal, the organization’s highest honor, in 1999.
Graves was also known for his dedication to family, and especially to his wife Barbara Kydd Graves, who passed away in 2012. Together, they raised three sons, Earl Jr., Johnny and Michael, and were blessed with eight grandchildren.
BE’s legacy lives on now through his son, BE CEO Earl “Butch” Graves Jr.
Draymond Green Reveals Adam Silver Talked Him Out Of Retiring
Silver told him, "You're making a very rash decision and I won't let you do that."
When Golden State Warrior player Draymond Green was suspended for his latest on-court incident, the forward had time to do some soul-searching. After contemplating retirement from the NBA, Green revealed that one person convinced him to continue his career: NBA Commissioner Adam Silver.
Green admitted having that discussion with Silver on the latest episode of his “The Draymond Green Show.” Without going into the details of the thought process of what needed to take place to allow Green back on the basketball court, he did state that he had told Silver that it was too much for him, and he was ready to call it quits.
“I told him, ‘Adam, this is too much for me. … This is too much. It’s all becoming too much for me — and I’m going to retire.’ And Adam said, ‘You’re making a very rash decision, and I won’t let you do that.'”
He credits Silver with wanting to help players in the NBA instead of punishing them.
“We had a long, great conversation — very helpful to me. Very thankful to play in a league with a commissioner like Adam, who’s more about helping you than hurting you, helping you than punishing you. He’s more about the players.”
Through Green’s commitment to better himself and be the type of player that the league expects, he was reinstated after he “demonstrated his commitment to conforming his conduct to standards expected of NBA players” while serving his suspension, according to the league.
The NBA announced on Jan. 6, after it suspended Green indefinitely on Dec. 14. Former NBA player Joe Dumars, executive vice president and head of Basketball Operations, said, “Golden State Warriors forward Draymond Green has been suspended indefinitely for striking Phoenix Suns center Jusuf Nurkić in the face. This outcome takes into account Green’s repeated history of unsportsmanlike acts.”
There has been no reported timetable for Green to return to action, but he was on the bench this past Sunday when they lost to the Toronto Raptors 133-118 at home.
GOP Presidential Candidates Skip Iowa Minority-Focused Forum
A majority of Republican presidential candidates declined to participate in the nation’s oldest minority-focused presidential forum, forcing its cancellation
Almost every Republican presidential candidate has declined to attend what is believed to be the nation’s oldest minority-focused presidential forum, forcing its cancellation.
NBC News reports that since 1984, Wayne Ford has organized the Iowa Brown and Black Presidential Forum, an event focusing on issues of significance during a presidential year, including crime, education and employment. It provides a platform for presidential candidates to tailor their message to communities of color.
Ford, a former Democratic state representative, said he was collaborating with Iowa republican leaders to put on the event this year but only Democratic candidates have participated so far.
Ford believed this year might be different due to gains the GOP have made in minority communities, but organizers canceled the event this year due to a low number of participants.
“We’ve reached out to the Republican Party—whether it was Bush, Reagan, it didn’t matter. We always reached out to both parties,” Ford said. “Over the years, we started recognizing that Republicans were not coming but, Democrats were. I’m disappointed that as of today, we still have not done a Republican forum from the presidential level.”
Ford, with the support of Iowa GOP Chair Jeff Kaufmann, began sending invitations to every Republican presidential candidate except former New Jersey Gov. Chris Christie, whom indicated he would not attend.
While former President Donald Trump, Nikki Haley, and Florida Gov. Ron DeSantis have held numerous campaign events in the state in the last several months, the only candidate who committed to the event was Ryan Binkley, who told NBC News he accepted the invitation because he “recognized the deep need for reconciliation in our nation, not just politically, economically, but certainly racially.”
Trump campaign spokesperson Steven Cheung suggested the former president would decline all events that would put him on a stage with other candidates.
Kaufmann told NBC News the cancellation of the event was “unfortunate.”
“Republicans have always been fierce champions of free speech and the fair exchange of ideas, and I applaud my good friend and Iowa political trailblazer Wayne Ford for attempting to provide another platform to facilitate debate and discussion,” Kaufmann said.
Democratic candidates who have attended in the past include President Joe Biden, former President Barack Obama, Hillary Clinton, Al Gore, and Jesse Jackson.
Fox 4 reports that Yarl was named to Missouri’s 2024 All-State Band as the second chair for bass clarinet, essentially marking Yarl as the state’s second-best bass clarinet player.
According to his family, Yarl, an honors student at Staley High School in Kansas City, was previously named to the All-State Band. Though Yarl was shot twice by Lester, once in the head and also in the arm, he was released from the hospital a few days after his injuries were treated. That summer, Yarl completed an engineering internship and resumed his studies at Staley High in August.
Ralph Yarl, the teen who was shot by a white man after going to the wrong house was named to the 2024 Missouri All-State Band as second chair for bass clarinet! Despite suffering a traumatic brain injury Ralph overcame his adversity! #BlackExcellencehttps://t.co/OQaXprDNTD
Now a senior, Yarl will likely testify again in the trial of Lester, which has been set for October 2024. In preliminary hearings, Yarl took the witness stand in August 2023 as one of 12 witnesses called to testify by the prosecution.
KSHB reported that during Yarl’s testimony, he told the court that after Lester told him “Don’t ever come here again,” Yarl began to back away, at which point Lester shot him in the head and again in his arm while he lay on the ground.
Lester faces one count of first-degree felony assault and one count of armed criminal action, which is also a felony, due to his alleged actions toward Yarl. Lester’s grandson, Klint Ludwig, said he believes his grandfather’s embrace of conspiracy theories may have played a role in the shooting of Yarl. “His actions are his responsibility, and falling into the fear and paranoia stoked by the 24-hour news cycle and wild conspiracies did not help his mental state.” Ludwig said.
“Ralph deserves justice, regardless of my relationship with the shooter,” Ludwig added. “Black Lives Matter always.”
In a June 2023 interview with Good Morning America, Yarl described the event from his point of view. “He points [the gun] at me … so I kinda, like, brace and I turn my head,” Yarl said. “Then it happened. And then I’m on the ground … and then I fall on the glass. The shattered glass. And then before I know it I’m running away shouting, ‘Help me, help me.’”
A Real G: Celebrating Earl G. Graves Sr. On His Birthday, And For Creating A Blueprint On Brand-Building
Decades before today’s brand leaders in fashion, music, and sports leveraged their personas into market share, Earl Graves perfected the blueprint.
Originally Published Apr. 16, 2020
Earl Graves Sr. had a presence.
Standing at nearly 6 feet 4 inches, Graves often dominated the rooms he entered. It wasn’t just his height that commanded respect or his signature sideburns; what made the man truly legendary was his vision. Over his 85 years, the BLACK ENTERPRISE founder created an ecosystem of business empowerment, and in the process made himself synonymous with the audacity of Black entrepreneurs.
It is no understatement to say that Graves was one of the first entrepreneurs—certainly Black entrepreneurs—who embodied the ethos and aspirations of his own brand. Decades before today’s brand leaders in fashion, music, and sports leveraged their personas into market share, Graves perfected the blueprint. In the ’80s, Jordan became Brand Jordan. In the ’90s, Diddy wore jerseys emblazoned with Bad Boy. But long before that, Graves’ three-piece suits, monogrammed cuff links, full Windsor knot, and wingtip shoes were associated with his empire.
Before he started BE, Graves worked in Sen. Robert Kennedy’s office, serving with him from 1965 until the senator’s assassination in 1968. In 1970, only two years after the assassinations of Kennedy and Martin Luther King Jr., Graves set out on his own to launch a publication celebrating Black businesses and entrepreneurs breaking barriers, creating jobs, and building wealth in our community. BE launched with a $175,000 loan; it had turned a profit by the 10th issue and would go on to reach a peak circulation of 500,000 in the ’90s.
Graves’ secret?
He believed in Black people. Graves’ success stemmed in large part from his own version of the “five forces” business theory framework. Popularized by Harvard professor Michael Porter in 1979, the model teaches entrepreneurs and executives to make informed decisions by looking at the relationship between five areas: rivals, suppliers, cost of entry, potential substitutes, and key customers. By critically analyzing industries, this framework identifies opportunities and challenges to be mastered to not only survive but to thrive.
In the ‘80s, Jordan became Brand Jordan. In the ‘90s, Diddy wore jerseys emblazoned with Bad Boy. But long before that, Graves’ three-piece suits, monogrammed cufflinks, full Windsor knot, and wingtip shoes were associated with his empire.
Graves was his own force. If you review his life and his work, you will see that he created his own five forces model, nine years before it was widely taught at business schools.
Belief in entrepreneurs
Graves was the undisputed champion of Black business in this country. Supporting and developing Black businesses has been a hallmark of his storied career—including his own. The idea of rivals was antithetical to his mission.
While Graves had complete market dominance of Black business publications, it never stopped him from making sure the entrepreneurs he featured in the magazines—and those who hoped to be—were in the same circles. Early in my career as president and CEO of Vibe magazine, Graves embraced and acted as a mentor in the world of Black media.
Today there are more than 2.6 million Black-owned businesses in the United States. Notably, in the 21st century, Black women have been at the vanguard of entrepreneurship. Of the 2.6 million Black businesses today, 1.5 million are female-owned. Nine out of 10 Black-owned businesses are sole proprietorships. This is what Black business looks like today. Does this mean every business has Graves and BE to thank? Not necessarily. But he undoubtedly paved the way. There was no need for rivals when all had a seat at the table.
Promoting executives
For Black businesses to thrive, they have to become vital trading partners with and key suppliers to Fortune 500s and successful private companies. This means fair opportunities to compete for contracts and new ventures. BE made sure we learned about pioneering black executives of extraordinary achievement, like Kenneth Chenault of American Express and Ursula Burns of Xerox. Graves showed us what Black corporate excellence looked like, which no doubt inspired the next generation of executives like Thasunda Brown Duckett, CEO of Chase’s consumer banking business. He knew that to fuel Black business you had to have successful Black corporate executives. Without Black corporate executives, there is less access and opportunity for Black businesses. Without successful Black corporate executives to emulate, young Black professionals lack mentors and sponsors. Period. That information was found in the pages of BE every single month.
Business, policy, and politics
For Black entrepreneurs, the cost of entry has often been tied to skin color. In the early days of BE, the road to the C-suite was mysterious. Deals were often made in country clubs that didn’t accept people of color. (And likely, still are, in some spaces.) Graves dropped that cost of entry to zero. He made sure that his writers always had their ears to the streets and covered Black entrepreneurs from those distilling new ideas to those preparing for their IPO—and far beyond.
Corporations need accountability and governance. Black elected officials, policymakers, and civic leaders hold corporations accountable for Black hiring and equitable supplier distribution to minority businesses. When PepsiCo asked Graves to help them reach the African American community as partners and suppliers, he created the PepsiCo African American Advisory Board, which included the Rev. Al Sharpton among a host of leading civic and business leaders. Graves’ philosophy is just as relevant today—his son, Earl “Butch” Graves Jr., interviewed Donna Brazile at the last BE Women of Power Summit.
Industry knowledge
Graves and his team always believed in nimbleness and the ability to pivot. He started out handing out free issues of BE to potential subjects and advertising clients. When sales of the print issue began to slow in the internet era, BE had already bolstered a digital presence—and that presence remains strong today.
An advocate of education as well as hands-on exposure to business, Graves was a longtime champion of corporate internship opportunities. Graves understood that just as Black businesses are essential, so too are historically Black colleges and universities. Today, HBCUs produce four of every 10 Black college graduates in the United States. These students, future entrepreneurs, and executives are the talent pipeline our nation needs to remain competitive in the global economy. In recognition of his lifetime commitment to paving the way for future generations, Morgan State University named its business school the Earl G. Graves School of Business & Management.
Key customers
This one was always easy for Graves: He wasthe key customer. As long as he remained true to his own vision as a business owner, the magazine itself would do the same. He also made a point to bring his three sons into the family business; they were both customers and consumers as well. Graves knew that a family business (his wife Barbara Kydd Graves, who passed in 2012, was on board from day one) is a business that has a fighting chance to remain viable. His son Earl Graves Jr. is at the helm and ready to continue his father’s legacy.
During his upbringing, his military service, and his time in government, Graves observed that successful people network. They find ways to work together. They find ways to build each other up. This principle inspiredBEevents. Network, network, network. But the lesson that he leaves is that networking is as much for the next generation as it is for self-advancement. To sustain our Black economy, we have to give our young people access.
For decades, BLACK ENTERPRISE fueled the dreams of young entrepreneurs and professionals long before social media existed. Graves did more than chronicle successful Black businesspeople—he created a blueprint for brand-building in a multimedia world.
Black people matter. Black businesses matter. Black entrepreneurs and Black executives matter. Before we realized we needed it, Graves showed us that BE matters.
The ranking is determined based on typical rent costs, mortgage payments with a 5% down payment, and the typical home value in the area, emphasizing affordability as a driving force for market heat. Buffalo, N.Y., and Cincinnati and Columbus, Ohio, claimed the top three spots in Zillow’s ranking, according to WSBTV.
Anushna Prakash, a data scientist for Zillow Economic Research, highlighted the importance of affordable home prices and strong employment in fostering a healthy housing market. “I’m cautiously optimistic that the housing market will get back on stable footing in 2024 —we shouldn’t see the massive price spikes of the early pandemic or fast-rising mortgage rates of recent years.”
As of now, the average mortgage rate across the United States is 6.62% for a 30-year fixed-rate mortgage, according to Freddie Mac. This is a slight increase from the previous week but still relatively low compared to the rates in October 2023. Freddie Mac, a federally-backed mortgage company, reported that rates last year peaked at 7.79%, the highest since rates surpassed 8% in 2000.
Sam Khater, chief economist at Freddie Mac, suggested that despite the recent sideways movement in rates, they are expected to drift downward throughout the year.
“Given the expectation of rate cuts this year from the Federal Reserve, as well as receding inflationary pressures, we expect mortgage rates will continue to drift downward as the year unfolds. While lower mortgage rates are welcome news, potential homebuyers are still dealing with the dual challenges of low inventory and high home prices that continue to rise,” Khater said.
Amidst market fluctuations, Redfin noted a significant decline in monthly payments for homebuyers, marking the lowest levels in approximately a year. The median U.S. mortgage payment stood at $2,361 for the four weeks ending Dec. 31, a decrease of $372 from the record high observed in October.
Despite the nationwide trend reflecting a 10% surge in new listings coupled with a 3% reduction in pending sales, Redfin’s data specific to the Atlanta metro area paints a distinct picture. New listings of homes for sale witnessed an 11.5% decrease, while pending sales experienced a 10% decline, challenging the nationwide pattern.
