At the national level, housing affordability was flat in September compared to the previous month, with the monthly mortgage payment falling by 0.7% while the median family income fell modestly by 0.6%.
Retail sales recorded a seasonally adjusted total of $638.2 billion in October, a 1.7% increase from September.
While the report tops 164 pages and has hundreds of data points that a real estate professional can use in their daily business, here are some takeaways.
There are some notable changes in the home buying environment, pandemic aside, including interest rates, home prices, and how people go about buying and selling homes.
The job market continues to make progress in October with 531,000 net new jobs. Since coming out of lockdown 18 million jobs have been created, but total jobs are still 4 million below the level seen before the arrival of COVID-19.
The 30-year fixed mortgage rate fell to 3.09% this week from 3.14%, good news for homebuyers and homeowners who want to refinance.
Analysis showed 43% of pet owners in the U.S. would be willing to move to accommodate their pet.
Amid an improving economy, the commercial real estate market continues to recover, marked by rising occupancy across all commercial property markets, according to the October Commercial Market Insights Report.
After a pandemic bounce-back in the first and second quarters, the economic expansion (gross domestic product) moderated to 2% in the third quarter.
U.S. industrial space completed Q3 2021 on a high note as old records were broken, and with demand outpacing supply for the fourth consecutive quarter.
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