Richmond

Data: GasBuddy; Note: Price as of the 1st of each month; Chart: Axios Visuals

Richmonders are finally seeing some relief at the pump after last summer's high of nearly $5/gallon.

Driving the news: Richmond drivers spent an average of $3.21 for every gallon of gas in February, per GasBuddy data. That's down 6% year over year, and down 1% from January.

Nationally, gas cost about $3.40/gallon in February — down 6% year over year, but up 2% from January.

The big picture: Cheaper gas is good news for American consumers, especially commuters.

Yes, but: Lower prices may disincentivize drivers from switching to more efficient cars, going electric or embracing public transit — all of which can have big environmental benefits.

Why it matters: More than three-quarters of American commuters drive to and from work, meaning they're particularly sensitive to the ebbs and flows of prices at the pump — especially as other basic goods also get more expensive.

Richmonders finally get some relief at the gas pump

Richmond drivers spent an average of $3.21 for every gallon of gas in February, per GasBuddy data

Richmonders are finally seeing some relief at the pump after last summer&#x27;s high <a class="gtmContentClick" data-vars-link-text="of nearly $5/gallon" data-vars-click-url="https://www.wtvr.com/news/local-news/gas-hits-5-a-gallon-june-08-2022" data-vars-content-id="03db730c-023f-4013-b7e5-00694c09b5ea" data-vars-headline="Richmonders finally get some relief at the gas pump" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.wtvr.com/news/local-news/gas-hits-5-a-gallon-june-08-2022" target="_blank">of nearly $5/gallon</a>.Driving the news: Richmond drivers spent an average of $3.21 for every gallon of gas in February, per GasBuddy data. That&#x27;s down 6% year over year, and down 1% from January.

News

Boston

Data: RE/MAX; Note: Overall number includes 50 metro areas analyzed by RE/MAX; Table: Kavya Beheraj/Axios

Home sales were down 19.1% year over year in the Boston metro area, per RE/MAX’s February report.

Why it matters: In 2022, potential buyers were desperate for more inventory. Now, homes are hitting the market but people can’t afford them.

What’s happening: Rates for a 30-year loan were at 6.09% in early February, and shot up to 6.65% by the end of the month, per Freddie Mac.

Sales were down 15.4% in February compared to January.

Inventory has crept up 15.6% since last February as sales have slowed.

It took an average of 31 days to sell a home last February. In February 2023, it took 36.

The median sale price went up 1.4%, from $550,000 to $557,500.

Zoom out: Because there’s less competition right now, buyers don’t have to front as much cash as they did a year ago, Axios’ Emily Peck reports.

Between the lines: Buyers who can afford these mortgage rates have more power.

They have more options than a year ago, they can take their time searching and they can make offers that aren’t wildly above list price.

Yes, but: These rates make buying unaffordable for many.

What's next: Mortgage rates dropped nearly a quarter point this month, which means buyer activity will likely pick back up.

Boston mortgage rates curb home sales

Homes are hitting the market but people can’t afford them.

Home sales were down 19.1% year over year in the Boston metro area, per RE/MAX’s<a class="gtmContentClick" data-vars-link-text=" February report" data-vars-click-url="https://www.prnewswire.com/news-releases/remax-national-housing-report-for-february-2023-301774754.html" data-vars-content-id="29379792-9ba8-4f36-9303-713aa1eec26b" data-vars-headline="Boston mortgage rates curb home sales" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.prnewswire.com/news-releases/remax-national-housing-report-for-february-2023-301774754.html" target="_blank"> February report</a>.Why it matters: In 2022, potential buyers were desperate for more inventory. Now, homes are hitting the market but people can’t afford them.

Real Estate

Raleigh

Raleigh drivers spent an average of $3.30 for every gallon of gas in February, per GasBuddy data. 

That's down 7% from last year, but up slightly — 1% — from January, and about on par with national prices.

State of play: Early numbers from this month show a continued decline, with average price of $3.19 in Wake County on March 3. 

Gas prices are also a political football.

When they're high, many Americans tend to blame whoever's sitting in the Oval Office — even though, as Axios' Andrew Freedman has reported, they don't exactly have total control over the cost of commodities priced on global markets, oil included.

The big picture: Cheaper gas is good news for consumers, especially commuters.

Yes, but: Lower prices may disincentivize drivers from switching to more efficient cars, going electric, or embracing public transit — all of which can have big environmental benefits.

Driving the news: Crude oil prices have fallen over the past year, leading to cheaper automotive gas.

A barrel of West Texas Intermediate crude — a common industry benchmark — costs around $76 as of late February, down from about $122 in June 2022.

Oil prices spiked last year amid uncertainty over Russia's invasion of Ukraine and the economic sanctions against Russia — a major oil producer — that followed.

While the fighting drags on, oil markets have largely stabilized, as CNN reports

Zoom out: At least we're not San Francisco, which has among the country's highest average gas prices, at $4.76 per gallon in February.

Houston drivers are enjoying some of the cheapest prices nationwide, at just $2.93/gallon.

Reality check: As Axios' Joann Muller recently found, charging up an EV isn't always significantly cheaper than filling a tank with gasoline — especially on road trips.

Electric cars aren't perfectly clean, either. Mining for the requisite materials can damage local ecosystems, while EVs' environmental benefit is lessened if they're charged with "dirty power" from, say, a coal plant.

Gas prices in the Triangle are — finally — a little cheaper

Raleigh drivers spent an average of $3.30 for every gallon of gas in February, per GasBuddy data.

Gas prices

Raleigh drivers spent an average of $3.30 for every gallon of gas in February, per GasBuddy data. <ul><li>That&#x27;s down 7% from last year, but up slightly — 1% — from January, and about on par with national prices.</li></ul>

National

A historically warm winter across a wide swath of America has led to a surprising sight: plenty of flowers blooming in the early days of March.

Why it matters: Given the rising temperatures and changing precipitation patterns associated with climate change, we might be rethinking "April showers bring May flowers" for the generations ahead.

What's happening: The issue is perhaps most exemplified by Washington, D.C.'s famous cherry blossoms, whose longevity and predictability are under threat from climate change, Axios' Chelsea Cirruzzo reports.

With the weather becoming more variable, with sharp whiplash events from one extreme to another, the blossoms are acting differently, blooming earlier and more unexpectedly, according to National Park Service arborist Matthew Morrison.

This year's peak bloom is predicted to take place March 22-25, but the NPS' indicator tree is showing several different phases of blossoms due to varying temperatures.

A little farther north, Philadelphia's cherry blossoms face the same threats, Axios' Mike D'Onofrio reports.

"The beautiful cherry blossoms that we’ve been used to in the past, where everything’s all in bloom at once, is going to be more and more of the exception than the rule," Vince Marrocco, director of horticulture at the Morris Arboretum, tells Axios.

The big picture: Weather events across the country can have a notable impact on native wildflowers and plant life.

Ohio's native wildflowers are blooming one to two weeks ahead of schedule after Columbus saw a February that was 9 degrees warmer than normal, Axios' Alissa Widman Neese reports.

Houston's spring and summer drought last year likely led to favorable conditions for Texas' famed bluebonnets to pop up around the city early this year, Axios' Shafaq Patel reports.

Worth noting: While many locations in the eastern half of the U.S. had Januarys and Februarys that ranked among their warmest on record, the forecast for March looks colder than average nationwide.

What's next: While climate change may cause some plants to appear early, it could also cause some to disappear from their traditional ranges in the decades ahead, Axios' Christine Clarridge reports.

A new map based on U.S. Forest Service data and climate predictions indicates that trees that have historically done so well in the Pacific Northwest may not survive the future, according to Pete Smith, the Arbor Day Foundation's urban forestry program manager.

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Flowers are popping up early all across America

We might be rethinking "April showers bring May flowers" for the generations ahead.

A bee with a cherry blossom in Washington, D.C.

A bee flies towards a cherry blossom at the Congressional Cemetery in Washington, D.C. Photo: Anna Rose Layden/Bloomberg via Getty Images

Flowers

Science

Data: Annie E. Casey Foundation; Map: Tory Lysik/Axios Visuals

Child care issues have forced some Massachusetts families to quit jobs to stay home with a kid, according to a new report by the Annie E. Casey Foundation.

Why it matters: The report released last week shows how deeply families struggle to stay afloat while working and paying for child care, writes Axios' Astrid Galván.

State of play: The annual average cost of child care for one kid was $19,961 in Massachusetts in 2021, about 53% of the median income for single mothers and 13% of the income for a married couple, according to the report.

12% of Massachusetts children lived with a family member who quit, changed or refused a job because of child care issues in 2021.

Zoom in: Massachusetts ranked third in overall child well-being according to the Casey Foundation report. In specific categories, Massachusetts ranked first in education and health, 14th in family and community and 20th in economic well-being.

The study found 29% of Massachusetts children have parents that lack secure employment. 30% of Mass. children live in households with a high housing cost burden.

Zoom out: The average annual cost of child care nationwide was $10,600. That number has increased by 220% since 1990, outpacing inflation.

The big picture: The inaccessibility of child care disproportionately affects women, single parents, families of color, immigrant families and those who live in poverty, experts say.

By the numbers: About 17% of Black children and 16% of Latino kids ages 5 and under lived with a family member who had to quit, change or refuse a job because of child care issues in 2021.

The same was true for 10% of white non-Hispanic children.

What they’re saying: "The child care costs can be so burdensome that they struggle to pay their rent, to buy food, to buy diapers and clothing for their children," says Leslie Boissiere, vice president of external affairs at the Annie E. Casey Foundation.

average annual cost nationwide was $10,600

Child care costs are burdening Massachusetts parents

The annual average cost of child care for one kid was $19,961 in Massachusetts in 2021.

<a class="gtmContentClick" data-vars-link-text="Child care issues" data-vars-click-url="https://www.axios.com/2023/04/21/us-economy-caregiving-data" data-vars-content-id="799223d8-e513-4dad-9804-49c1bbf73304" data-vars-headline="Child care costs are burdening Massachusetts parents" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/04/21/us-economy-caregiving-data" target="_self">Child care issues</a> have forced some Massachusetts families to quit jobs to stay home with a kid, according to a new report by the <a class="gtmContentClick" data-vars-link-text="Annie E. Casey Foundation" data-vars-click-url="https://assets.aecf.org/m/databook/aecf-2023kidscountdatabook-embargoed.pdf" data-vars-content-id="799223d8-e513-4dad-9804-49c1bbf73304" data-vars-headline="Child care costs are burdening Massachusetts parents" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://assets.aecf.org/m/databook/aecf-2023kidscountdatabook-embargoed.pdf" target="_blank">Annie E. Casey Foundation</a>.Why it matters: The report released last week <a class="gtmContentClick" data-vars-link-text="shows how deeply families struggle to stay afloat" data-vars-click-url="https://www.axios.com/2023/06/15/child-care-daycare-costs-states-parents" data-vars-content-id="799223d8-e513-4dad-9804-49c1bbf73304" data-vars-headline="Child care costs are burdening Massachusetts parents" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/06/15/child-care-daycare-costs-states-parents" target="_self">shows how deeply families struggle to stay afloat</a> while working and paying for child care, writes Axios&#x27; Astrid Galván.

Axios Local

Stories

Child care costs are burdening Massachusetts parents

Boston mortgage rates curb home sales

Richmonders finally get some relief at the gas pump

Gas prices in the Triangle are — finally — a little cheaper

Flowers are popping up early all across America