Latest / Markets with Megan: A Quick Financial Markets Update / Housing Hope or Housing Hype? | S2 E099 | 11-26-26

Transcript

Housing Hope or Housing Hype? | S2 E099 | 11-26-26 · Markets with Megan: A Quick Financial Markets Update

• 0:00
  Megan Horneman: We're getting a little bit of mixed data out of the housing market that we've seen.
• 0:04
  Megan Horneman: It's Wednesday, November the 26th, and this is Markets with Megan.
• 0:07
  Megan Horneman: If you like this podcast, subscribe, hit that alarm bell.
• 0:10
  Megan Horneman: You can also share with friends, family, or colleagues.
• 0:12
  Megan Horneman: Anybody who wants to learn some more about the economic data that we get on a regular basis and what that means for investments.
• 0:18
  Megan Horneman: So let's look at the housing data that we received this week.
• 0:21
  Megan Horneman: Remember, the government has been shut down.
• 0:24
  Megan Horneman: So we've received a lot of government-led economic data over the past couple days.
• 0:28
  Megan Horneman: And this is a holiday shortened week.
• 0:30
  Megan Horneman: But today we're going to talk about the housing data we received yesterday.
• 0:34
  Megan Horneman: When you look at the let's focus first on the September home prices.
• 0:39
  Megan Horneman: We saw that the September, what's called the K-Shiller index, this rose for the second consecutive month.
• 0:46
  Megan Horneman: So home prices are rising again.
• 0:49
  Megan Horneman: If you go back, this was in July, June, May, April, March, we saw five consecutive months of home price declines.
• 0:57
  Megan Horneman: And this was giving the Fed a little bit of ease there in cutting interest rates because of the fact that higher home prices can lead into that shelter component of CPI and push that index higher.
• 1:09
  Megan Horneman: Let's focus on what we saw city by city here.
• 1:12
  Megan Horneman: This index tracks 20 major cities.
• 1:15
  Megan Horneman: And when you look, the the cities that saw the biggest increase was San Francisco, Miami, and Minneapolis.
• 1:22
  Megan Horneman: But when you look at the biggest declines, you saw New York, some of the other maybe vacation types of homes, Tampa, Charlotte, Atlanta, Las Vegas, Portland, these all saw month-over-month price declines.
• 1:36
  Megan Horneman: Now, when we move into what we're seeing from a sales perspective, that was September home price data.
• 1:42
  Megan Horneman: Well, in October, we got the information on the pending home sales.
• 1:46
  Megan Horneman: And what we saw in the month of October that the mortgage rate actually did fall, almost 20 basis points.
• 1:51
  Megan Horneman: So we did see a little bit of an uptick here in pending home sales.
• 1:55
  Megan Horneman: We have seen activity start to maybe come back in that area of the market.
• 2:00
  Megan Horneman: Not great, but remember, we're still just trying to find that trough and maybe move higher in that housing housing market.
• 2:06
  Megan Horneman: You saw the northeast rise, the south.
• 2:09
  Megan Horneman: The West was the only one that declined, but we did see the biggest jump in the Midwest pending home sales.
• 2:16
  Megan Horneman: Now that's all we have for uh the economic data today.
• 2:20
  Megan Horneman: And if you'd like to see a history of our podcast, you go to markets with Megan.fm.
• 2:24
  Megan Horneman: Thank you.