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MarketMinute | Pending home sales have risen!

Mar 28

9:09

AM

Category | Markets in a Minute

Unemployment applications held steady last week, a sign the labor market remains healthy as companies continue to retain their employees.

Concerns about tariffs, inflation, and market volatility pushed consumer confidence for the future economy to a 12-year low in March.

Fourth quarter GDP was revised to an annual rate of 2.4%. Continued growth is expected, though tariffs could slow the pace.

Housing News

Although the FHFA said it will not lower conforming loan limits, it has announced the termination of special purpose credit programs.

Pending home sales last month rebounded from a record low in January. Calmer weather and a greater selection of houses provided optimism.

Mortgage demand from homebuyers was the strongest in nearly 2 months. Purchase apps rose 1% for the week and 7% over a year ago.

MarketMinute | The housing market has some unexpected increases

Mar 21

3:04

AM

Category | Markets in a Minute

The Fed kept its policy rate unchanged at the March meeting. Fed members expect to cut policy rates twice in 2025.

Retail sales were up by less than forecast in February, and January was revised downward to mark the biggest drop since July 2021.

Initial jobless claims rose slightly last week. Continuing claims also rose, with more people remaining jobless longer than a year ago.

Housing News

Existing home sales unexpectedly increased in February, as rising supply and falling mortgage rates pulled buyers back into the market.

Housing starts were stronger than expected in February, though builders continue to face persistent shortages of labor and buildable lots.

Builder confidence fell to a 7-month low in March due to economic uncertainty, tariff threats, and elevated construction costs.

MarketMinute | Is there a market for 3D-printed homes?

Mar 14

3:40

AM

Category | Markets in a Minute

After rising in January, wholesale prices remained unchanged in February. Markets are concerned tariffs may lead to future increases.

The CPI showed slowing inflation in February. The drop-off is not expected to trigger policy rate cuts at next week's Fed meeting.

Job openings rose to 7.74 million in January, signaling employer optimism amid ongoing labor market concerns.

Housing News

Lennar and Icon, a 3D technology company, partnered to 3D print 100 homes in Georgetown, Texas. About 75% of them have already sold.

Though rates were no longer falling, total mortgage apps jumped 11% last week. Purchase apps rose 7% for the week and 4% year over year.

Pending home sales ticked up for the week but were slightly lower than a year ago. Unsold inventory is up 28% nationwide from last year.

MarketMinute | Mortgage apps jumped this week!

Mar 7

7:47

AM

Category | Markets in a Minute

The Fed’s most recent Beige Book showed a mixed employment picture and a slight rise in economic activity since mid-January.

Unemployment applications fell more than expected last week, indicating the labor market remained stable in February.

Payroll processing firm ADP reported private companies added just 77K new workers in January, well below the 148K consensus estimate.

Housing News

Single-family construction spending rose 0.6% in January. Overall spending, including for multifamily and home improvements, fell by 0.4%.

New apartment construction hit a record high last year. Developers completed almost 600K multifamily units, according to the U.S. Census.

Falling mortgage rates lit a fire under demand last week. Mortgage applications jumped 20%, the first increase in 3 weeks.

MarketMinute | Inventory and prices rose in January. Find out what fell

Feb 28

2:59

AM

Category | Markets in a Minute

In February, consumer confidence experienced its largest decline since 2021. The drop was blamed on rising inflation and trade war concerns.

Initial jobless claims hit their highest level of the year last week, a potential sign of weakness in the labor market.

A rise in durable goods orders in January is being attributed to businesses rushing to buy parts and supplies ahead of potential U.S. tariffs.

Housing News

There were 1.18 million homes for sale at the end of January, an increase of 3.5% from December and 17% from January 2024.

The median price of a home sold in January was $396,900, up 4.8% from the year before and the highest price ever for the month of January.

Sales of previously owned homes fell 4.9% for the month in January but were 2% higher than January 2024.