Find out where the economy and housing market are heading through the Quarterly Economic & Housing Market Outlook. Here are some key highlights:

Economy: The U.S. Economy Continues to Grow but at a Smaller Pace

  • Labor market cooling with unemployment rate rising above 4% for the first time since November 2021.
  • Inflation moderating and is expected to continue to moderate towards the Fed target.

Housing Market: Affordability Challenged by Higher Rates; House Prices Resilient

  • Mortgage rates declining after hovering around 7% for much of Spring 2024.
  • Home sales continue to be affected by rate lock effect.
  • Housing supply has increased only modestly, particularly the rate lock-in effect dampens repeat buyer activity.
  • Home price growth remains strong on low supply.

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Economic & Housing Market Outlook

See impacts of inflation, labor, mortgage rates, home prices and delinquencies with the U.S. housing market in the 2024 Quarterly Economic & Housing Market Outlook.

Monthly Report

While the economy continues to expand, the unemployment rate rises to 4% for the first time since November 2021. The labor market is cooling but remains tight.