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Consumer Daily Reports

Buyers are stymied by high prices, interest rates and lack of supply

By James R. Hood of ConsumerAffairs
July 23, 2025
  • June home sales fell 2.7% month-over-month; unchanged from a year ago
  • Median home price hit a record $435,300, up for the 24th consecutive month

  • Inventory rose year-over-year, but affordability remains a key challenge


Sales of existing homes in the U.S. slipped in June as high mortgage rates and continued housing supply constraints put pressure on buyers, according to the National Association of REALTORS (NAR).

Total existing-home sales dropped 2.7% from May to a seasonally adjusted annual rate of 3.93 million. While that figure is unchanged compared to June 2024, it reflects the prolonged stagnation of the housing market amid affordability challenges. Sales declined in three of four major U.S. regions, with only the West seeing a modest uptick.

At the same time, the national median home price rose to a record $435,300 in June2% higher than one year agomarking the 24th straight month of annual price increases.

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Regionally mixed performance

The Northeast experienced the sharpest month-over-month drop, down 8% to an annual rate of 460,000 homes. Sales also fell 4.2% from June 2024. The Midwest and South saw respective monthly decreases of 4% and 2.2%, though both recorded slight gains year-over-year. The West bucked the trend with a 1.4% increase in monthly sales, though that region remains down 4.1% compared to a year ago.

Inventory and market conditions

Housing inventory at the end of June stood at 1.53 million units, up 15.9% from a year earlier and representing a 4.7-month supply at the current sales pace. Thats a slight increase from May and a notable improvement from the 4-month supply in June 2024.

Properties typically remained on the market for 27 daysunchanged from May but longer than the 22-day average from a year ago. First-time buyers accounted for 30% of purchases, a modest improvement from 29% in June 2024.

Investor activity fell to its lowest level since September 2022, with individual investors or second-home buyers making up just 14% of transactions.

Yun: High prices reflect wealth gains but undersupply persists

NAR Chief Economist Lawrence Yun emphasized that while rising home values are building household wealth, they also highlight the deepening affordability crisis. The record high median home price underscores how American homeowners wealth continues to grow, Yun said. But multiple years of undersupply are driving these prices, holding back first-time buyers.

Yun pointed to long-standing underbuilding and population growth as the root causes. More supply is needed to increase the share of first-time homebuyers in the coming years, even though some markets appear to have a temporary oversupply at the moment, he added.


Quick Stats

  • Single-family home sales:Down 3% month-over-month; median price $441,500

  • Condo/co-op sales:Flat vs. May; median price $374,500

  • Cash buyers:29% of all sales, up from 27% in May

  • Distressed sales:3%, unchanged from last month


Mortgage rates remain a sticking point

The average 30-year fixed mortgage rate was 6.75% as of July 17, according to Freddie Mac. Thats down slightly from a year ago but still high enough to keep many potential buyers sidelined.

If rates were to fall to 6%, we estimate that an additional 160,000 renters could become first-time homeowners, Yun noted. He said a rate drop in the second half of 2025 could boost sales nationally, especially with continued income growth and a strong job market.




Posted: 2025-07-23 15:03:37

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More News From This Category

Consumer News: Transportation Department backs off effort to require speed limiters on big trucks

Fri, 25 Jul 2025 16:07:07 +0000

The National Safety Council says the decision will lead to more fatalities on U.S. roads

By James R. Hood of ConsumerAffairs
July 25, 2025

  • The U.S. Department of Transportation has withdrawn a decades-old rulemaking to require speed limiters on heavy vehicles.

  • The National Safety Council warns the move will lead to more fatalities on U.S. roads.

  • In 2023 alone, speeding killed nearly 12,000 people and over 5,000 large trucks were involved in fatal crashes.


The U.S. Department of Transportation (USDOT) has officially withdrawn its long-standing effort to require speed-limiting technology on large commercial vehicles, ending more than 20 years of regulatory work aimed at curbing speed-related traffic fatalities.

The decision, announced by the Federal Motor Carrier Safety Administration (FMCSA), halts proposed rulemaking that would have mandated the use of speed limiters on multipurpose passenger vehicles, trucks, buses, and school buses weighing more than 26,000 pounds. The aim of the rule was to reduce deadly crashes involving speeding heavy vehicles by leveraging existing technology to cap maximum speeds.

Lorraine Martin, president and CEO of the National Safety Council (NSC), strongly criticized the move. USDOTs research has proven speed-limiting devices save lives, ensuring truckers can perform their jobs and return home safely, Martin said in a statement. This is a disappointing rollback of a decades-long effort to reduce speed-related fatalities involving large commercial vehicles. The National Safety Council urges USDOT to reconsider its decision, which will cost lives.

Fatal numbers on the rise

Speeding remains a persistent and deadly problem on U.S. roads, the NSC said. In 2023, it was a factor in 29% of all traffic deaths, claiming the lives of 11,775 people an average of more than 32 fatalities every day. The stakes are even higher when excess speed is combined with the massive weight of heavy trucks. That year, 5,375 large trucks were involved in fatal crashes, reflecting an 8.4% decrease from 2022 but still a staggering 43% increase compared to a decade ago.

The withdrawal comes despite government studies showing that speed limiters work. A 2012 FMCSA study of fleet data found that trucks equipped with such devices had significantly lower crash rates. USDOT estimates that capping truck speeds at 65 mph could prevent nearly 5,000 injuries and save over 200 lives each year.

The National Safety Council, a 110-year-old nonprofit dedicated to eliminating preventable deaths and injuries, emphasized that the science is clear and the technology is already available.

A step backward?

Critics argue that USDOTs reversal undermines public safety, particularly for highway users who share the road with heavy trucks. This isnt just about regulation its about protecting families and professional drivers alike, Martin said.

As fatalities involving large commercial vehicles trend upward, safety advocates warn that abandoning speed limiter rules now could have deadly consequences in the years to come.


Read More ...


Consumer News: Here are the food costs that have gone up the most this summer

Fri, 25 Jul 2025 16:07:07 +0000

Beef and chocolate are fueling inflation at the supermarket

By Mark Huffman of ConsumerAffairs
July 25, 2025
  • The price of beef rose sharply, with ground beef averaging $6.11 per pound (up 11.8% year-over-year) and steak increasing by 8%. Nonalcoholic beverages, especially coffee, also saw price hikes, with coffee alone rising 2.2% in June.

  • Fresh fruit and vegetable prices increased, notably citrus (up 2.3%). Chocolate-based products are becoming costlier due to record-high cocoa prices, prompting major manufacturers to plan double-digit price hikes.

  • While most food categories saw inflation-driven increases, egg prices provided relief, dropping 7.5% in May after a 40% surge in 2024. However, upcoming tariffs, such as a 50% U.S. duty on Brazilian imports, may drive future spikes in coffee and orange juice prices.


With the hot weather of summer, inflation has heated up again at the supermarket. While the cost of some grocery items has moderated over the last 12 months, other prices have risen faster than the inflation rate.

A ConsumerAffairs analysis of government and private data found nonalcoholic beverages have gotten more expensive, led by the cost of coffee. While the beverage category rose 1.4% in June, the cost of coffee was up about 2.2%.

Summer cookouts were a lot more expensive this year, thanks to more expensive beef. Beef prices were up 2% in June alone. A drought in the Midwest resulted in significant reductions in herd size.

A pound of ground beef went for an average of $6.11 in mid-July, an 11.8% year-over-year increase. The price of steak rose a bit less 8% year-over-year. Steak is now selling for an average of $11 to $12 a pound.

More expensive citrus

At the same time, buying fresh fruit and vegetables has been a more expensive proposition. Overall costs are up 0.9% but the price of citrus, especially oranges, has surged by 2.3%.

Cakes and cookies containing chocolate are a lot more expensive this summer and are likely to go even higher. Global cocoa prices reached all-time highs around $8,135/ton as of July24,2025. Thats nearly double from five years ago and the increase has prompted Hershey and producers to announce double-digit price hikes on chocolate products later in 2025.

The one bright spot appears to be the price of eggs, which caused so much consumer consternation earlier this year. After surging 40% in 2024, the price of a dozen eggs had fallen by 7.5% in May.

Food economists say tariffs may keep food prices high for a while, since a lot of food in the produce aisle and meat counter is imported. A new 50% U.S. tariff on Brazilian imports starting in August is expected to send prices of orange juice and coffee even higher, potentially adding 6% 10% their current prices.


Read More ...


Consumer News: Canned pears recalled due to lead and cadmium contamination

Fri, 25 Jul 2025 16:07:07 +0000

Exposure could be harmful to children

By Mark Huffman of ConsumerAffairs
July 25, 2025
  • W.W. Industrial Group, Inc. is recalling 15 oz. cans of PARASHORE Pear Slices in Juice (UPC# 704817164237, Lot 3700/01172 6122J) due to potential contamination with elevated levels of lead and cadmium.

  • Exposure to high levels of lead and cadmiumespecially in childrencan cause severe health issues including developmental delays, learning disabilities, and in extreme cases, seizures or coma, even without showing obvious symptoms.

  • Affected products were sold at Grocery Outlet stores across the U.S.; consumers are advised not to consume the recalled pears and should return them for a full refund or discard them.


W.W. Industrial Group, Inc., is recalling Parashore Pear Slices in juice, in 15 oz. cans, because they have the potential to be contaminated with elevated levels of lead and cadmium.

Lead and cadmium are toxic substances present in our environment in small amounts and everyone is exposed to some of these heavy metals from daily actions such as inhaling dust, eating food, or drinking water. In general, the small exposure to lead within the U.S. population does not pose a significant public health concern.

However, exposure to larger amounts of lead and cadmium can cause poisoning. While these heavy metals can affect nearly every bodily system, their effects depend upon the amount and duration of lead exposure and age.

Symptoms can include abdominal pain, vomiting, lethargy, irritability, weakness, behavior or mood changes, delirium, seizures, and coma. However, infants, young children and the developing fetus can be affected by chronic exposure to amounts of heavy metals that may not result in obvious symptoms of lead poisoning.

A child with heavy metal poisoning may not look or act sick. Heavy metal poisoning in children can cause: learning disabilities, developmental delays, and lower IQ scores.

Product was distributed through Grocery Outlet stores in California and other Grocery Outlet stores across the U.S.

The recalled product is packaged in a 15oz can and labeled as PARASHORE Pear Slices in Juice, 15oz (425 g), UPC#704817164237. The specific lot found positive for heavy metals was Lot 3700/01172 6122J, Prod: 02/19/2024, Best by 2/19/2027.

No illnesses so far

No illnesses have been reported as of July 22, 2025.

The heavy metal contamination was discovered via sampling by the Maryland Department of Health which is part of the FDA Laboratory Flexible Funding Model program.

The company has recalled the products and is continuing an investigation to determine cause.

Consumers who have purchased Parashore Pear Slices in Juice 15oz (425 g) should not consume the product and are urged to discard in the trash or return it to the place of purchase for a full refund. Consumers with questions may contact the company at 516-676-9188 Monday to Friday 10 AM 4 PM EDT.


Read More ...


Consumer News: FBI renews warning about ‘Phantom Hacker’ scam

Fri, 25 Jul 2025 13:07:06 +0000

Teams of scammers claim to be tech support, banks and government agencies

By Mark Huffman of ConsumerAffairs
July 25, 2025
  • The "Phantom Hacker" scam involves a coordinated team of fraudsters posing as tech support, financial institutions, and U.S. government agencies to convince victims their devices and money are at risk.

  • Scammers use fake pop-ups, remote access software, and fabricated threats to trick victims into transferring funds to supposed safe accounts via wire transfers, cryptocurrency, or cashall under the guise of protecting their finances.

  • Red flags include unsolicited tech support pop-ups, urgency to act, demands for remote access to devices, pressure to move money using untraceable methods, and instructions to keep the activity secret.


The tech support scam has always been dangerous because victims often act without thinking when told their devices have been hacked. When told their money is at risk, they often panic.

Since 2023, the FBI has warned of a tech support scam on steroids the Phantom Hacker scam.

It often starts with a pop-up on the victims phone or computer, telling them their device has been compromised and instructing them to call a tech support number. When they do, they are connected to a team of scammers.

The first scammer directs the victim to download an app, allowing the scammer remote access to the victim's computer. The scammer pretends to run a virus scan on the victim's computer and falsely claims the computer has been or is at risk of being hacked.

Next, the scammer requests the victim open their financial accounts to determine whether there have been any unauthorized charges - a tactic the scammer uses to determine which financial account is most lucrative for targeting. The scammer chooses an account to target and tells the victim they will receive a call with further instructions from the fraud department of the respective financial institution hosting that account.

Team effort


A scammer posing as the victims financial institution contacts the victim. The scammer falsely informs the victim that their computer and financial accounts have been accessed by a foreign hacker and the victim must move their money to a "safe" third-party account, such as an account with the Federal Reserve or another US Government agency.


The scammer directs the victim to transfer money via a wire transfer, cash, or cryptocurrency, often directly to overseas recipients. The scammer may instruct the victim to send multiple transactions over a span of days or months.


The scammer tells the victim not to inform anyone of the real reason they are moving their money.


Finally, the victim may also be contacted by another scammer posing as an employee at the Federal Reserve or another U.S. Government agency. If the victim becomes suspicious of the government imposter, the scammer may send an email or a letter on what appears to be official U.S. Government letterhead to legitimize the scam.


The scammer continues to emphasize that the victim's funds are "unsafe" and that they must be moved to a new "alias" account for protection until the victim concedes.

Red flags

While this scam continues to be highly effective, there are several red flags that should tell the target they are being taken for a ride.

  • Unsolicited contact: The pop-up is the first contact, sometimes claiming to be from Microsoft tech support. Microsoft has said it does not contact consumers in this way.
  • Urgency: The victim is told they must act immediately to prevent the loss of their money.
  • Device access: The victim is told they must download software and give complete strangers access to their financial accounts. This should never be done.
  • Funds transfer: The victim is told they must move money in an unusal and untraceable manner, using either a wire transfer, cryptocurrency or gift cards.
  • Secrecy: The victim is told not to tell anyone what they are doing. There is no reason for this, other than to prevent the victim from getting practical advice from a friend or family member.

The FBI reminds the public to beware of Phantom Hacker , where cyber criminals use a 3 prong attack against victims using tech support, financial institution, & government impersonation simultaneously, the FBI said in a post on X.


Read More ...


Consumer News: Honda launches insurance agency for Acura and Honda customers

Thu, 24 Jul 2025 22:07:07 +0000

Automakers expanding digital services to keep customers in the fold

By Truman Lewis of ConsumerAffairs
July 24, 2025
  • New agency offers auto, home, motorcycle, and RV insurance with access to top providers
  • Exclusive features include OEM parts coverage for Honda and Acura vehicles

  • Partnership with VIU by HUB enables fast, expert guidance in all 50 states


American Honda Motor Co. is launching Honda Insurance Solutions, a fully licensed insurance agency offering coverage options for Acura and Honda customers nationwide. The new agency provides a wide array of insurance servicesfrom auto and home to motorcycles, boats, and recreational vehiclesall available through its new online platform, hondainsurancesolutions.com.

Powered by VIU by HUB, anomnichannel insurance brokerage, Honda Insurance Solutions aims to streamline the insurance buying process, enabling customers to compare prices from top carriers and receive transparent, expert advice from licensed agents in real time.

Insurance is a key touchpoint in the vehicle ownership journey, said Petar Vucurevic, President of American Honda Insurance Solutions, LLC. We aim to deliver a superior experience tailored to the unique needs of each customer while promoting safer driving and peace of mind on the road.

Features tailored to Honda and Acura owners

Among the features of Honda Insurance Solutions is optional OEM parts coverage, which ensures that insurance claim repairs for Honda and Acura vehicles use genuine parts. This offering helps preserve vehicle value.

Licensed in all 50 states and D.C., the service allows consumers to shop for a wide range of policies, including auto, renters, condo, pet, boat, and moreall backed by American Honda Finance Corporation.

Strategic expansion of Honda's digital services

The insurance initiative is part of a broader digital strategy by Honda to enhance the customer journey. Future plans include integrating insurance directly into digital vehicle sales platforms and rolling out new products that combine safety, convenience, and value.

This is just the beginning of our vision, added Vucurevic. Were creating an insurance experience integrated throughout the Acura and Honda digital customer journeys.

With this new venture, Honda joins a growing number of automakers expanding beyond traditional manufacturing to include financial and digital services aimed at improving lifetime customer engagement.

Visit hondainsurancesolutions.com for quotes, coverage options, and additional information.


Read More ...


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