Weekly Economic and Housing Market Update

December 4, 2020

VIDEO TRANSCRIPT:

• I’m Danielle Hale, Chief Economist for realtor.com® and here’s what you need to know this week. 
• The jobs report shows that the unemployment rate declined again in November and more jobs were added in transportation and warehousing, professional and business services, and health care industries. 
• Progress is good, but again, the pace slowed, raising concerns, particularly as we still have roughly 10 million fewer jobs now than in February AND covid case levels are high and climbing. 
• Fed Chair Powell and Treasury Secretary Mnuchin both testified before Congress this week urging for additional stimulus to support vulnerable households and businesses until the economy is more fully healed.
• Turning to real estate, recent data show a still hot housing market. Thanks in part to another…