Weekly Housing Market Update - 5/20/2022

This week, Manager of Economic Research George Ratiu talks about signs that the economy and real estate markets are moving toward a new normal. George talks about the fourth consecutive monthly advance in industrial production, and the solid increase in retail spending, even with rising consumer prices. He highlights that the economy remains on a stable foundation, however moderating growth looms on the horizon, as the Conference Board’s Leading Economic Index spotlighted in April. Concerned companies are moving to contain costs, and some are cutting jobs, as evidenced by the increase in unemployment insurance claims.

On the real estate front, George talks about the slowdown in new construction and declining homebuilder sentiment. He also highlights that existing home sales declined for three consecutive months as higher mortgage rates cooled demand. George points out that mortgage rates broke a strong upward trajectory this week, but remain about 50% higher than last year. Real estate markets are in the early stages of moving toward more balance. He mentions that rents reached a new high in April. At the same time, George talks about the rising inventory of homes for sale, which is boosting supply. He concludes with the newest feature on Realtor.com, a wildfire risk score which offers consumers more details about a property’s fire risk, and empowers buyers and homeowners to make more informed decisions.

0:17 - Industrial Production Index
0:32 - Retail sales trends
0:58 - Unemployment trends
1:19 - Conference Board Leading Economic Index
1:30 - New home construction trends
1:45 - Existing home sales trends
2:00 - Mortgage rates
2:13 - Rent trends
2:31 - Real estate listings trends

More weekly housing market updates: https://www.youtube.com/playlist?list=PLmlKLrMX62MaN_8ny9hJdpyVoDfUDNjM8

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Learn More about the home buying process: "Home Buying 101: How Do I Get Started?"
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Видео Weekly Housing Market Update - 5/20/2022 канала Realtor.com