Market Update

Austin Market Insights & Updates

National Market Insights & Updates

• Pending home sales increased in November, rising 2.2% month-over-month to bring the index to a level of 79.0. 

• The FHFA House Price Index rose 0.4% month-over-month in October, a slightly lower increase than the expected 0.5% expected rise.

• The 20-city Case-Shiller Home Price Index exceeded expectations in October, climbing 0.3% month-over-month.

• Mortgage application submissions fell 21.9% from two weeks prior. The holiday adjusted Refinance Index tumbled 36% from two weeks earlier, but was 10% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 13% over the two-week period.

• Continuing Jobless claims fell by 52,000 the week ending 12/21, dipping to a level of 1,844,000. This is a much larger drop than the expected decline of 6,000.

• Initial jobless claims dipped by 9,000 during the week ending 12/28, falling to a level of 211,000. Experts had predicted a slight increase.

• Construction spending was unchanged in November, following October’s 0.4% monthly increase.