Retail and foodservice sales are estimated at $546.5 billion, which is a 1.1% decrease from prior month figures but up 4.1% year-over-year.
The 30-year fixed mortgage rate fell sharply this week, hitting a new record low at 2.67%. NAR forecasts the 30-year fixed-rate mortgage to average 2.9% and 3.0% in the first and second quarter of 2020, respectively.
Affordability declined in October compared to September as the median family income rose by 3.3% while the median home prices grew by 16.0%.
Homeownership is the key pathway to build wealth and narrow the racial income and wealth inequality gap.
The 30-year fixed-rate mortgage remained flat this week after reaching a new record low a week earlier to an average of 2.71%.
The annual inflation rate rose for the sixth straight month in November as the economy gradually recovers from the COVID effect.
Cyber Mondays’ $10.8 billion represents a 15.1% year-over-year increase.
The job numbers show that e-commerce, housing demand, COVID-19 research/testing, and information technology services have been the factors driving job growth during May-November.
The unadjusted new jobless claims totaled 713,824 in the week ending November 28, a decrease of 15% from the previous week.
With teleworking at record high levels, people also decide to move for various reasons.
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