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Realtor.com COVID-19 Housing Market Update

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In this weeks COVID-19 update, from the Realtor.com YouTube channel, Senior Economist George Ratiu talks about the changes in the economy and real estate markets, starting with the surprising rise in jobless claims. He follows-up with mortgage rates, which experienced the fourth consecutive weekly decline, boosting sales of existing homes. He also discusses the welcome increase in the number of homes listed for sale this summer, based on Realtor.com’s weekly inventory release.

George covers the latest data on the new construction front, including the softening builder sentiment and the mixed numbers for housing permits, starts and completions. George wraps up the update with the latest quarterly Realtor.com/The Wall Street Journal Emerging Housing Markets Index, which highlights smaller cities, with strong economies, entrepreneurial diversity, good quality of life, and a growing share of non-local home shoppers seeking affordability.

Realtor.com COVID-19 Housing Market Update

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In this weeks COVID-19 housing market update, from Realtor.com, Senior Economist George Ratiu talks about increased volatility in activity and data as we move toward a new normal. He covers the drop in May retail sales, which was led by fewer sales of cars and trucks. He also discusses the rise in wholesale prices which is translating into higher inflation. George also talks about the rebound in industrial production and the surprising increase in unemployment insurance claims. With rising prices and strong inflation weighing on consumers and financial markets, George mentions the Federal Reserve’s announcement that it will likely speed up its rate increase schedule.

Realtor.com COVID-19 Housing Market Update

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In this weeks COVID-19 Housing Market Update video, from the Realtor.com YouTube channel, Chief Economist Danielle Hale discusses her thoughts on the May jobs report including the best-performing industries. She also notes the latest jobless claims data and what happened with vehicle sales in May.

In housing, we saw an uptick in mortgage rates but they’re still hovering at a favorable level.

Danielle also discusses the May housing data highlights spotlighting trends in prices, time on market, and new listings that are also visible in the weekly housing trend update.