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After a strong February in 2013 that saw year-over-year growth in property transactions of 158 percent and $32.1 billion in total transactions, February 2014 came back to earth, recording $19.8 billion in transactions for a year-over-year drop of 38 percent, according to data from Real Capital Analytics.
At its first meeting under the leadership of Janet Yellen, the Federal Open Market Committee decided to continue its tapering of quantitative easing by $10 billion and to update its forward guidance policy to no longer recognize the 6.5 percent lower threshold for unemployment, known as the Evans Rule, that would determine how long the Federal Reserve would continue to suppress interest rates. Both of these results were expected.