Housing Week Ahead: Market Cools While Economic Indicators Signal What’s Next
Today, the Realtor.com® economics team releases its July Monthly Housing Trends Report—showing a market that isn't coming apart, but is cooling as is typical for late summer.
Senior economist Jake Krimmel's full analysis, along with metro- and county-level data for markets beyond the top 50, is available now.
The rest of the week brings additional research from the team. On Wednesday, senior economist Joel Berner breaks down Community Development Block Grants, a key federal funding mechanism leveraged by the newly enacted 21st Century Road to Housing Act. He examines where funds are currently allocated and the markets that stand to benefit the most under the new allocation formula.
Thursday brings the latest Weekly Housing Trends view, reported by our intern, economist Glen Morgenstern, with directional readings on the U.S. housing market.
Two economic indicators round out the week. Thursday's Freddie Mac mortgage rate update will show how borrowing costs are responding to the on-and-off nature of the conflict in the Middle East, which has kept upward pressure on rates.
Friday brings the Employment Situation Summary from the Bureau of Labor Statistics—the "jobs report"—which will be watched closely for signs of moderating job growth, a stable unemployment rate, and whether wage growth holds near its recent 3.5% pace, all of which feed into expectations for a possible Fed rate move in September.
For the full reports, visit realtor.com/research.