Blog


MarketMinute | How many sellers chose FSBO in 2021?

Sep 2
3:35
AM
Category | Markets in a Minute

  • Consumer confidence rebounded more than expected in August after 3 straight monthly declines, a positive sign for consumer spending.
  • Last week’s jobless claims fell to their lowest level since June, signaling labor market resilience amid a slowing economy.
  • Fed comments from Jackson Hole last week have led markets to expect a larger policy rate hike in September.
 

  • Purchase mortgage applications dropped 2% for the week and were 23% lower year over year. Refi apps also fell.
  • Despite talk of falling home prices, June’s prices were 18% higher than in June 2021, according to Case-Shiller.
  • The NAR reports FSBOs made up only 7% of home sales in 2021—the lowest share since 1981—even in the red-hot market.

Twitter Tweet Logo Facebook Share Logo

MarketMinute | Are first-time buyers still in the market?

Aug 26
4:49
AM
Category | Markets in a Minute

  • New orders for durable goods increased in July, but the pace slowed from the prior month, suggesting a moderate rebound in business spending.
  • The economy shrank at a slightly slower pace in the 2nd qtr than initially reported, as inflation and higher interest rates weighed on spending.
  • Jobless claims fell for the 2nd week in a row, suggesting that employers are holding on to workers despite growing economic uncertainty.

 

  • New home sales fell for the 2nd straight month in July, reaching a 6-1/2 year low. Sales were down 12.6% from June and 29.6% from a year ago.
  • Pending home sales dropped 19.9% in July year over year and have fallen 8 of the past 9 months, as limited supply at lower price points slows sales.
  • Demand from first-time homebuyers appears to be increasing, though  overall purchase mortgage applications fell 1% last week.

 

Twitter Tweet Logo Facebook Share Logo

MarketMinute | How are builders feeling about the market?

Aug 19
8:41
AM
Category | Markets in a Minute

  • Last month’s Fed meeting minutes showed officials agreed on the need to eventually dial back the pace of policy interest rate hikes.
  • Consumer sentiment rose to a 3-month high in early August, indicating stronger expectations about the economy and personal finances.
  • Retail sales for July were flat compared with an anticipated 0.1% gain. Falling fuel prices helped drive retail spending.

  • Builder sentiment for the single-family homes market fell into negative territory in August, as builders and buyers struggle with higher costs.
  • Housing starts fell in July to the lowest level since early 2021. Construction of both single- and multi-family homes dropped by 10%.
  • Existing home sales fell nearly 6% in July compared with June and were down almost 20% year over year, hampered by tight supply.

Twitter Tweet Logo Facebook Share Logo

MarketMinute | What's easing pressure on buyers?

Aug 12
6:43
AM
Category | Markets in a Minute

  • The consumer price index rose 8.5% in July from a year ago but was below expectations, due largely to slumping energy prices.
  • Wholesale prices also fell in July, down 0.5% from the previous month. It was the first wholesale price drop in 2 years.
  • Non-farm payrolls rose 528K in July, and the unemployment rate was 3.5%, easily beating estimates of 258K and 3.6%.

 

  • Fannie Mae’s Home Purchase Sentiment Index fell 2 points in July to 62.8, its lowest reading since 2011.
  • The total listing count grew by 2.5% in July, easing pressures on buyers. Days on market is still significantly shorter than pre-pandemic.
  • Purchase mortgage applications fell 1% for the week and 19% from a year ago. Refi apps rose 4% but were down 82% from last year.

 

 

Twitter Tweet Logo Facebook Share Logo

MarketMinute | The Housing Market is Setting Records

Aug 5
4:50
AM
Category | Markets in a Minute

  • The Fed's preferred inflation gauge, the PCE price index, rose 6.8% in June, the biggest annual move since 1982.
  • Manufacturing activity continued to cool in July. More factories dialed back production in the face of shrinking orders and rising inventories.
  • Despite signs of a slowing economy, the labor market remains in good shape. Last week's jobless claims came in at 260K, in line with estimates.

 

 

  • Construction spending tumbled in June. Outlays on single-family homebuilding declined sharply amid rising mortgage rates.
  • Total mortgage demand increased 1.2% last week as the average 30-year fixed mortgage rate made the largest weekly drop since 2020.
  • The median price of an existing home sold in June set yet another record at $416K, an increase of 13.4% year over year.

 

 

Twitter Tweet Logo Facebook Share Logo



Showing results 36 - 40 of 338