Monday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Monday’s business headlines.

Home sales

Home prices, already through the roof, are expected to keep climbing.

A national housing shortage is showing no signs of easing and the cycle is not expected to break anytime soon.

The median existing-home price in April was up 19% from last year to $341,600, according to the National Association of Realtors.

Meanwhile, RedFin reports half of homes are now selling about list price.

Wages

Companies are offering higher wages as they grapple with a labor shortage.

Under Armor announced this week that it was boosting is minimum wage, following other companies, like McDonald’s Chipotle and Bank of America.

It’s been at least 25 years since U.S. businesses were willing to increase worker pay. While this won’t affect the bottom line right away, it could start to squeeze profits down the road.

Uber

Both Lyft and Uber will be teaming up with the White House to begin offering free rides to COVID-19 vaccination centers starting Monday.

Lyft will offer a “ride code,” covering up to $15 for each trip to and from a vaccination site. The offer cover daytime rides on bikes and scooters, as well as cars. Uber has not provided additional details on its plans.

Restaurants

Americans are returning to restaurants, bars and other dining places as COVID-19 restrictions come down, adding strains in food supply chains.

Distributors are facing difficulty in finding workers and surging transportation costs.

Demand has changed too.

Restaurants that remained open slimmed down their menus during the pandemic and shifted from fresh ingredients for salad bars and buffets.