Realtor.com's Senior Economist George Ratiu spoke in this video spotlight about a variety of economic numbers reported last week.
He said while single-family permits and starts remained on an upward trend, wildfires, hurricanes, and the Labor Day holiday "added to market challenges."
He touched on the pace of new construction and more.
Ratiu also addressed the Federal Reserve’s latest announcement about its monetary policy actions.
George also discusses Realtor.com’s Housing Recovery Index, along with the Weekly Housing data, highlighting fast-shrinking inventory and steeply rising prices. He mentions that while Freddie Mac mortgage rates remained low, applications declined, as buyers stepped back from both purchase and refinancing activity.