Quick Market Insights - CRESTICO Local Real Estate Mortgage Broker
In this brief market update, the speaker presents key U.S. economic and housing data for October and November 2024. Inflation eased to 2.3% in October, opening the door for the Federal Reserve to contemplate rate cuts. Durable goods orders rose modestly by 0.2%, a sign of a slowing manufacturing sector that could dampen growth. Consumer confidence hit a 16‑month high in November, driven by a strong labor market and lower inflation expectations, suggesting a more stable outlook. On the housing side, new single‑family home sales plunged 17.3% in October—the lowest level in nearly two years—while pending sales climbed 2%, marking a third consecutive monthly gain and the strongest pace since March. The FHA reported that home prices rose 4.3% year‑over‑year in Q3 2024, with a 0.7% quarter‑over‑quarter increase. The video concludes with a concise recap of these trends.
