This week, Senior Economist George Ratiu discusses the latest upward revision to gross domestic product and the welcome decline in initial unemployment insurance claims. He also covers the slide in orders of durable goods during February.

George also discusses the latest data on the real estate front, covering the drop in both new and existing home sales during February. He also talks about the weekly realtor.com data, which shows that demand remains unseasonably high, keeping the housing market very competitive.

George covers the release of two realtor.com reports this week, looking at February’s hottest real estate markets, and the challenges that today’s first-time buyers face in a market rife with historically-low inventory, contingency waivers, and price escalation clauses. He touches on the week’s jump in mortgage rates, along with the slide in applications, which highlight rising affordability challenges.

For more real-time updates, follow the realtor.com economics team on Twitter: @rdc_economics.

Have an economic question you want the team to answer? Leave a note in the comments below!

Watch the latest COVID-19 Housing Market Update: https://www.youtube.com/watch?v=JQ-cOn75f6c &list=PLmlKLrMX62MaN_8ny9hJdpyVoDfUDNjM8

0:16 – GDP Growth
0:28 – Unemployment insurance claims
0:45 – Durable goods and manufacturing
1:00 – Real estate update
2:00 – Mortgage rates

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Learn More about the home buying process: “Home Buying 101: How Do I Get Started?”
https://www.youtube.com/watch?v=zqZI4ZvjcRM
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#realtor #realestate

This week, 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.

George covers the latest trends in real estate markets, including the mixed new construction numbers and the slide in home builder sentiment. On a hopeful note, Realtor.com weekly data show more sellers are bringing homes to market, helping moderate the frenzied price growth of the past year. George highlights that mortgage rates saw another decline, keeping financing affordable.

George also mentions the newest rental report from Realtor.com which highlights that rents are rising and have reached the highest level in two years. He concludes by talking about realtor.com’s latest insights into what 2021 buyers are looking for in their next homes.

0:17 – Retail sales, travel sales
0:30 – Wholesale prices, producer price index
0:46 – Industrial production
0:56 – Unemployment claims
1:02 – Federal reserve rate
1:18 – Construction report
1:40 – Real estate listings
1:47 – Mortgage rates

More COVID-19 Housing Market Updates: https://www.youtube.com/playlist?list=PLmlKLrMX62MaN_8ny9hJdpyVoDfUDNjM8

*********
Find your home on https://www.realtor.com

*********
Download our mobile app: https://www.realtor.com/mobile

*********
Follow us on:
Facebook: https://www.facebook.com/realtor.com
Twitter: https://www.twitter.com/realtordotcom
Instagram: https://www.instagram.com/realtordotcom
Pinterest: https://www.pinterest.com/realtordotcom

-~-~~-~~~-~~-~-
Learn More about the home buying process: “Home Buying 101: How Do I Get Started?”
https://www.youtube.com/watch?v=zqZI4ZvjcRM
-~-~~-~~~-~~-~-

#realtor #realestate

Learn more about the mortgage process and setting expectations. In this video, we help guide you on the path to homeownership by laying out the documentation you will need, timing involved, potential fees and how to find the right lender for your home loan. We are here to help you understand the home buying process and help you buy your own piece of real estate. #Mortgage101 https://www.realtor.com/mortgage-101/

*********
Find your home on https://www.realtor.com

*********
Download our mobile app: https://www.realtor.com/mobile

*********
Follow us on:
Facebook: https://www.facebook.com/realtor.com
Twitter: https://www.twitter.com/realtordotcom
Instagram: https://www.instagram.com/realtordotcom
Pinterest: https://www.pinterest.com/realtordotcom

-~-~~-~~~-~~-~-
Learn More about the home buying process: “Home Buying 101: How Do I Get Started?”
https://www.youtube.com/watch?v=zqZI4ZvjcRM
-~-~~-~~~-~~-~-
#realtor #realestate

#TrustEgine #MortgageCoach #NoBorrowerLeftBehind
Watch this video to hear $125M producer Brian McCauley unpack his best strategies to recruit new realtor relationships, and how he’s getting meetings and delivering value for agents in this market.
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