Houtan HormozianExpert on Real Estate, Finance and PropTech

Stay ahead with our Quick Market Insights! #RealEstateKnowledge #QuickMarketUpdate #Crestico

21 Oct 2024 · 1 min

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This content was created by Houtan Hormozian. This content was uploaded by Houtan Hormozian. This is a YouTube video titled "Stay ahead with our Quick Market Insights! #RealEstateKnowledge #QuickMarketUpdate #Crestico" (posted 2024-10-21). It is a short market update/narration summarizing September economic and housing indicators: retail sales beating expectations, sharp drop in jobless claims, strong consumer spending, rising inflation pressuring bonds and pushing mortgage rates higher, two months of improved builder sentiment and optimism for a busy 2025, an average new home loan of $402,658 in September, and mortgage applications up 10.8% year‑over‑year despite a 7% weekly decline. The excerpt appears to be a single-speaker market insight segment (thumbnail available).

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A quick market insights. In September, retail sales exceeded expectations, and jobless claims dropped sharply, showing strong consumer spending and a resilient labor market. This robust economic activity, along with rising inflation, is pressuring bonds and pushing mortgage rates higher. For the 2nd month in a row, builder sentiment improved, reflecting optimism despite challenging conditions. Builders are looking ahead to a busy 2025 as demand remains strong in the housing market. In September, the average new home loan was $402,658, with mortgage applications up 10.8% year over year despite a 7% weekly drop. Thank you for watching.