In this weeks COVID-19 housing market update, from the REALTOR.com YouTube channel, Senior Economist George Ratiu talks about the gains in the economy as states are loosening or removing pandemic restrictions, including the decline in initial jobless claims to the lowest point since March 14, 2020.
In this weeks COVID-19 housing market update, from the REALTOR.com YouTube channel, Chief Economist Danielle Hale discusses gas shortages and eye-popping inflation data, particularly for used cars.
She gives highlights from the latest job openings and labor turnover report, celebrates another drop in jobless claims data, and notes that small business optimism and challenges are consistent with these other data reports.
In housing, we saw a drop in mortgage rates despite inflation and Danielle discusses the implications for home buyers.
This week’s housing trend updates show that homes are still selling fast, but also show a tiny buyer-friendly step in the form of steady or slowing price gains and inventory declines as new listings grew. This is consistent with data from Fannie Mae’s National Housing Survey on buyer and seller confidence.
Finally, a recent Realtor.com® survey of new homeowners sheds light on how they’ll adjust to a return to work. A key takeaway: remote work is a strong preference.
In the following video, from the REALTOR.COM YouTube channel, Senior Economist George Ratiu talks about new signs of growth in the economy and real estate markets. He talks about the first quarter GDP advance and the rebound in durable goods orders. He also discusses the welcome decline in jobless claims, and the accompanying jump in consumer confidence.
George talks about the Federal Reserve’s continued monetary support and the impact on mortgage rates. He also presents the latest market trends from realtor.com, including results from a recent survey of homeowners indicating a noticeable potential increase in the number of homes for sale.
George also mentions the newest market spotlight, a partnership between realtor.com and The Wall Street Journal, looking at emerging housing markets, cities where solid local economies complement diverse neighborhoods, entrepreneurship, high quality of life, and relatively affordable real estate (published by Chief Economist Danielle Hale).