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MarketMinute | See real estate's legislative wins

Jul 11

3:11

AM

Category | Markets in a Minute

In a recent Fed survey, consumers expected inflation to be at 3% a year from now, down from previous surveys and back to pre-tariff levels.

Last week's stronger-than-expected jobs data surprised markets and took chances of a July Fed policy rate cut off the table.

Continuing unemployment claims, an indicator of the total unemployed population, came in at the highest level since November 2021.

Housing News

Purchase mortgage applications rose 9% for the week and were a staggering 25% higher than the same week a year ago.

Just 3.1% of homeowners moved in 2024, an all-time low and 24% below pre-pandemic levels, Harvard’s Joint Center for Housing Studies reports.

NAR praises policy wins in H.R. 1, including the permanent mortgage interest deduction and temporary increase in the SALT deduction cap.

MarketMinute | Rates begin moving lower in anticipation of earlier Fed cuts

Jun 27

5:55

AM

Category | Markets in a Minute

Readings show that in June, consumers grew less pessimistic about the economy and inflation as global trade tensions showed signs of easing.

Although new unemployment claims decreased last week, continuing claims increased to 1.97 million, the highest level since November 2021.

Some Fed members have come out saying they would like to see the Fed cut policy rates as soon as next month’s meeting, if inflation stays low.

Housing News

Sales of new single-family homes dropped 13.7% in May and 6.3% from a year ago, well below both the six-month and the one-year average.

However, pending home sales picked up in May after a sharp decline a month earlier, with contract signings rising 1.8% as inventory levels ease.

Home mortgage applications dropped 0.4% last week compared with the previous week, but were 11% higher than the same week a year ago.

MarketMinute | Are Investors Selling Off Homes?

Jun 13

3:52

AM

Category | Markets in a Minute

Inflation remained mild in May as gas prices fell and tariffs had little impact. Economists expect price pressures to grow later this year.

Wholesale inflation also showed surprisingly little signs of increasing, despite concerns that tariffs would drive up companies' costs.

Jobless claims rose slightly higher than forecast for a 2nd week, yet recurring applications did not imply any significant increase in job losses.

Housing News

Realtor.com reports a 5.2% year-over-year increase in investor home sales in 2024, with a median sales price of about $330K.

Mortgage demand rose to the highest level in over a month. Purchase apps were up 10% for the week and were 20% higher than a year ago.

The housing market faces a record imbalance, with almost 500K more sellers than buyers as of April 2025.

MarketMinute | Home Inventory Is Up

Jun 6

3:41

AM

Category | Markets in a Minute

Job openings rose in April, but layoffs surged the most in 9 months. The job market may be cooling as tariff fears cloud the economic outlook.

ADP reported private payroll growth of just 37K in May. It was the lowest monthly gain since March 2023 and much less than expected.

Jobless claims rose to 247K last week, the highest since October, adding to signs of a cooling job market and rising layoff risks.

Housing News

Construction spending fell in April, as the single-family market was hit by high rates and a growing glut of unsold homes.

Though mortgage rates dipped last week, demand fell. Total mortgage applications dropped 3.9% from the week before.

Unsold home inventory is up 33% from a year ago. Homes are taking longer to sell as supply outpaces demand.

MarketMinute | Sellers are making a comeback!

May 30

4:18

AM

Category | Markets in a Minute

Consumer confidence soared in May, driven by easing U.S.-China trade tensions and improved outlooks for jobs, stocks, and the overall economy.

GDP fell 0.2% in Q1, hit by weak consumer spending and record trade deficits, despite stronger business investment and inventory growth.

Minutes from the most recent Fed meeting showed officials favor patience on policy rate changes due to tariff uncertainty and inflation risks.

Housing News

Home prices rose in March, but the pace could slow with more listings. Sellers have returned to the market more readily than buyers.

Pending home sales fell 6.3% in April, much more than expected. Rising mortgage rates and economic uncertainty hurt buyer demand.

Purchase applications rose 2% last week and were up 18% from a year ago, driven by increased housing inventory in many markets.