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MarketMinute | How old is the U.S. housing stock?

Mar 23

5:23

AM

Category | Markets in a Minute

Markets are on edge as the Iran conflict pressures oil prices and stokes inflation fears, creating uncertainty for the economic outlook.

Economists are starting to shift their forecasts toward a recession, with Moody's Analytics projecting the chances as high as 49% in the next year.

Markets now see little likelihood of a Fed policy rate cut in 2026 and have even started to anticipate a policy rate hike before year's end.

Housing News

As mortgage rates have risen, demand has softened. Total application volume dropped 10% and purchase apps fell 5% for the week.

NAHB reports around 47% of U.S. housing stock was built before 1980. Owner-occupied homes have a median age of 42 years.

The number of home flips hit a 4-year low in 2025, dropping 4% year over year, per Realtor.com. Gross profits fell from 32% to 25%.

MarketMinute | Pending home sales rose in February

Mar 20

3:06

AM

Category | Markets in a Minute

The Fed left its policy rate unchanged at this week's meeting but signaled concern that inflation remains a problem and future cuts aren't certain.

Wholesale prices rose sharply in February, providing another sign that inflation persists even aside from rising energy costs.

Jobless claims last week fell to the lowest level since January, signaling limited layoffs and labor market resilience.

Housing News

Builder sentiment edged higher in March, though affordability concerns remain due to high construction costs and limited land and labor.

Pending home sales unexpectedly increased in February, likely driven by improved affordability and lower mortgage rates.

New home sales, however, plunged in January. It was the biggest drop in 13 years and a troubling sign for builders heading into the spring market.

MarketMinute | Inventory and sales are up!

Mar 13

4:21

AM

Category | Markets in a Minute

Consumer inflation met expectations in February, slowing from January’s level and marking the lowest core annual rate since 2021.

The budget deficit surpassed $1 trillion for the fiscal year through February but was sharply lower than the same period a year ago.

New jobless claims fell last week, easing concerns about labor market weakness after February’s surprise drop in employment.

Housing News

Existing home sales grew unexpectedly in February. Lower mortgage rates and steady prices encouraged buyers to step back into the market.

Housing supply improved slightly in February. Inventory rose 4.9% to 1.29 million homes, and the median home price reached $398K.

Single family housing starts fell in January, and building permits dropped 5.4%. However, multifamily construction surged about 30%.

MarketMinute | Home Buyers Are Coming Off the Sidelines — Here’s Why

Mar 6

4:24

AM

Category | Markets in a Minute

Oil prices jumped this week as the Middle East conflict raised concerns about shipping and supply restraints in the global oil market.

Rising oil prices renewed inflation fears and reduced expectations of Fed rate cuts, pushing rates higher.

Current labor data, including unemployment claims and the ADP private payroll report, gave conflicting views of labor market strength.

Housing News

Rates briefly hit 4-year lows last week, moving purchasers off the fence. Purchase apps rose 6.1% for the week and 10% year over year.

Homebuyer preferences are shifting from open layouts toward more traditional designs with better privacy and energy efficiency, per the NAR.

HousingWire reports property taxes and homeowners insurance account for an average of 21% of monthly payments, impacting affordability.

MarketMinute | How did rates impact mortgage apps?

Feb 27

4:28

AM

Category | Markets in a Minute

The labor market continues to show resilience. Jobless claims came in lower than expected last week, indicating layoffs remain relatively low.

Consumer confidence was better than expected in February, though the share of consumers viewing jobs as "hard to get" reached a 5-year high.

The prospect of being replaced by AI is leading higher income workers to stay in their jobs longer, reports CNBC.

Housing News

ICE reports home prices grew 0.5% in January, a slight slowdown from 2025’s annual increase of 0.6%.

Despite headlines of rates hitting a 4-year low, total mortgage application volume was basically flat, rising just 0.4% for the week.

President Trump highlighted taxes, inflation, and trade in his State of the Union address, making only a passing reference to housing.