The Realtor.com® economics team video update gives you the relevant economic and real estate information you need to know to navigate the housing market as a homebuyer, home seller, or industry professional.
In October, Chief Economist Danielle Hale discussed the latest labor market indicators which continue to show a surprisingly strong jobs market.
Looking at the inflation landscape, Danielle reviews how favorable trends this summer have faded as energy prices pick back up and how this impacts the return to 2% inflation.
Additionally, Danielle reviews the Fed’s September meeting decision, and more importantly, its updated projections which, alongside more recent robust data, have kicked off a renewed surge in interest rates.
The downside to higher interest rates is that mortgage rates are included. Danielle gives additional context and advice for home shoppers to consider in light of higher trends.
Turning to the latest Realtor.com housing data, Danielle notes that home prices grew for a second month according to Realtor.com’s September Housing Trends report, authored by Economic Data Manager Sabrina Speianu. Inventory trends are more mixed, but the big picture trend: limited inventory hasn’t changed.
The lack of homes for sale contributed to a 13-year low in Existing Home Sales even as new home construction and new home sales both rose.
Meanwhile, rents continue to exhibit modest slowing. The September Rental Trends report by Research Economist Jiayi Xu showed a 5th straight month of easing while the August Rental Trends report highlights just how much that has tipped the balance in favor of renting versus buying.
Finally, Danielle reveals the market that topped the Fall 2023 Wall Street Journal/Realtor.com Emerging Housing Markets Index based on insights from Sr. Research Analyst Hannah Jones and the WSJ team.
Find details and Realtor.com® housing data for download at realtor.com/research. And follow us on X (formerly Twitter): @rdc_economics, for real-time updates.
Have an economic question you want the team to answer? Leave a note in the comments below!
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Learn More about the home buying process: "Home Buying 101: How Do I Get Started?"
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