In this weeks weekly housing update, from realtor.com, Manager of Economic Research George Ratiu talks about the changing economic and real estate landscape as we move through spring.

George talks about the sharp increase in prices which are taking a bigger bite out of Americans’ paychecks. He mentions that producer prices also rose, at the fastest pace on record, adding to the inflationary spiral. With higher prices, consumers bought more necessities and fewer cars or online goods.

George discusses the slide in small business optimism to the lowest level in a year, as owners worry about labor shortages and inflation. He highlights that jobless claims remain near a 54-year low, as there are more openings than workers looking for employment. The strength of the job market filtered into the consumer sentiment index.

On the real estate front, George talks about another jump in mortgage rates, which hit 5% (Freddie Mac 30-year loan), a level last seen in May 2011. He also points to the fact the inflation is driving rents higher. And he concludes with encouraging signs, highlighting Realtor.com’s weekly data which show more homeowners listing their properties for sale.

In today’s Real Estate Podcast, from the realtor.com YouTube channel, Chief Economist Danielle Hale discusses ongoing Fed clarification of policy plans following last week’s March Fed meeting decision to raise its short-term rate and how recent jobs data impact those plans.

She highlights the impact on interest rates in general and on mortgage rates, specifically, which hit a 3 year high this week, as discussed by colleague George Ratiu.

Next, Danielle recaps the early impact of higher rates on home sales indicators including for new homes and pending sales for existing homes. Of note, much of the for-sale new home inventory is not yet completed. In other words, they may not be the move-in ready homes that buyers are looking for, as my colleague Hannah Jones found.

As we approach the best week of the year to list your home for sale, Realtor.com weekly housing data point to a seller’s market with still-rising home prices and fast sales. And finally, the February Rental Report is a clue to one factor keeping buyers in the market despite higher housing costs–higher rents–as my colleague Jiayi Xu researched.