House prices are still on the rise – Markets in a Minute

A quick look at the markets for the week ending June 28, 2024 ‌ 

	According to the Fed, the excess savings Americans stored away during the pandemic ran dry months ago, and the economy is feeling the effects.
	Consumer confidence fell in June amid worries about the economy, though households remained upbeat about the labor market and inflation.
	Total unemployment claims rose to the highest level since 2021, a warning sign unemployed workers need longer to find a job.
	According to the FHFA, house prices rose 0.2% for the month in April and were up 6.3% on the year.
	New home sales, which make up about 10% of the market, fell to a 6-month low in May. It was the steepest monthly decline since Sept 2022.
	Pending home sales unexpectedly fell to an all-time low in May, as elevated mortgage rates and rising home prices discouraged buyers.