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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. â€¯

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. â€¯

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.

MarketMinute | Who's driving the first-time buyer market?

May 23

3:44

AM

Category | Markets in a Minute

This week's Fed speakers reaffirmed the Board's commitment to a wait-and-see approach to rate changes due to economic uncertainty.

New jobless claims were slightly better than expected, while continuing claims rose by 36K. New jobs may be hard to find despite a stable market.

In an Achieve survey, 32% of households reported financial gains and 33% declines last year, though 57% had expected growth and 10% worsening. â€¯

Housing News

April’s single-family housing starts were 1.6% higher than in March. However, permits for future construction fell 5.1% month over month.

Existing home sales dropped 0.5% for the month in April and 2.0% for the year, due to economic uncertainty and high housing costs.

Gen Z made about one in four first-time homebuyer mortgage originations in the 1st quarter of 2025, according to the ICE Mortgage Monitor.

MarketMinute | Who's thinking of selling and why?

May 16

3:06

AM

Category | Markets in a Minute

Inflation cooled to 2.3% in April, its lowest in 4 years. Falling prices for groceries, cars, and flights offset tariff pressures.

Producer prices fell in April by the most in 5 years, as companies absorbed tariff costs instead of passing them on to consumers.

Retail sales rose just 0.1% in April after a March surge. Consumers pulled back amid tariff uncertainty and growing economic pessimism. â€¯

Housing News

ICE’s 2025 Borrower Insight Survey found Younger Gen Z (42%) and Millennial (27%) owners are more likely to be planning to sell in the next year.

Those planning to sell are most likely looking for a change in scenery (42%), upsizing/downsizing (38%), or accessing cash from equity (30%).

Mortgage demand rose for the 2nd straight week. Purchase apps rose 2% for the week and 18% year over year.

MarketMinute | First-time buyers are leading the purchase market

May 9

11:44

AM

Category | Markets in a Minute

The Fed held its policy rate steady at its May meeting, warning of growing inflation and unemployment risks amid trade policy uncertainty.

Unemployment claims fell last week. After spiking briefly at the end of April, current levels again signal a stable labor market.

April's ISM data was mixed. Manufacturing activity contracted for a 2nd straight month, while the services sector grew modestly. â€¯

Housing News

Buyers returned to the spring market despite economic jitters. Purchase mortgage apps rose 11% for the week and 13% from a year ago.

First-time homebuyers made up 58% of agency purchase lending in the 1st quarter of 2025, according to the ICE Mortgage Monitor.

Fannie Mae reports fewer people think it’s a good time to sell, as rising inventory, stalled sales, and economic uncertainty fuel competition fears.