Houtan HormozianExpert on Real Estate, Finance and PropTech

Markets in a minute September 2021

27 Sept 2021 · 1 min

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1:28

In this brief market‑news segment, the narrator reports on several key U.S. economic developments as of late September 2021. The Federal Reserve signaled it may start tapering its bond‑purchase program as early as the November meeting, while indicating that policy rates will likely stay unchanged until late 2022. Labor market data showed a modest rise in both initial and continuing unemployment claims, with continuing claims reaching 2.8 million, though the overall labor market is still viewed as improving. The segment highlights growing concerns about a potential partial government shutdown due to stalled budget negotiations ahead of the September 30 fiscal‑year deadline. Housing news reveals a second consecutive month of decline in single‑family home starts, driven by material and labor shortages that exacerbate an existing housing shortage. Existing home sales fell 2 % from July, inventory dropped 1.5 % month‑to‑month to 1.29 million, yet remain above pre‑pandemic levels. Tight supply pushed the median home price to $356,700, a 14.9 % year‑over‑year increase. Mortgage purchase applications rose to their highest level since April. The segment concludes with a thank‑you to viewers.

Chapters

Markets in a Minute. The Economy. The Fed signaled this week that it will begin reducing bond purchases, possibly as soon as its November meeting, but will likely keep policy rates unchanged until late 2022. Both initial jobless claims and continuing claims were up slightly last week, with the latter reaching 2.8 million. Still, the labor market appears to be improving. Concerns are growing over a possible partial government shutdown as political infighting delays a budget deal needed before the fiscal year ends on September 30th. Housing news. Single-family home building fell for a second straight month in August. Builders struggled with shortages of materials and labor, adding to an already massive housing shortage. August existing home sales were 2% down from July. Supply fell 1.5% month-to-month, hitting 1.29 million. However, sales are still above pre-pandemic levels. Tight supply pushed August's median home price to $356,700, up 14.9% year-over-year. Mortgage purchase applications rose to the highest level since April. Thank you for watching.