May 2024 Housing Market Update

The Realtor.com® economics team video update gives you the relevant economic and real estate information you need to know to navigate the housing market as a homebuyer, home seller, or industry professional.
In May, Chief Economist Danielle Hale examines economic and labor market indicators which are tracking in line with solid but slowing growth. She recaps the May Fed meeting and how recently higher inflation factors into the mix.
Danielle notes that interest rates, including mortgage rates have eased following the Fed meeting, but highlights that inflation data will shape the trends ahead.
Meanwhile, in the latest Realtor.com housing data, Danielle finds a good-news-bad-news story for shoppers. The April Housing Trends Report report, authored by Economic Data Manager Sabrina Speianu, showed more sellers and flat pricing, but still-stretched affordability.
Affordability is a key theme Danielle identifies for the number one market in the 2024 Housing Market Ranking that Sr. Economic Analyst Hannah Jones compiled in collaboration with the Wall Street Journal.
Meanwhile, existing home sales and pending home sales are flashing mixed signals on what’s ahead.
Finally, as we move into graduation season, Danielle shares the Top Rental Markets for Recent College Grads based on findings from Economist Jiayi Xu.
Find details and Realtor.com® housing data for download at realtor.com/research. And follow us on X (formerly twitter): @rdc_economics, for real time updates.
Have an economic question you want the team to answer? Leave a note in the comments below!
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Script straight from CNN.