U.S. Jobless Claims Hit Eight-Month Low, Signaling Resilient Labor Market as Construction Spending Remains Flat

1 Credits

US Jobless Claims Hit Eight-Month Low

labor market heading into 2025. Last week, new applications for unemployment benefits fell by 9,000, landing at 211,000 – the lowest since April. This suggests fewer layoffs and a stable job market, which could keep the Federal Reserve from aggressively cutting interest rates.

Economists note that while job growth has slowed compared to previous years, the labor market is still healthy, supporting economic expansion. The four-week moving average of claims also fell, indicating a steady pace of labor market cooling without any signs of a major downturn.

Meanwhile, construction spending in November remained flat overall, with a slight uptick in single-family homebuilding but a sharp decline in multi-family projects.

This data signals that while demand for single-family homes remains steady, the broader construction market may face headwinds from rising mortgage rates and economic uncertainties. Often, low unemployment data results in lower bond yields which raises interest rates for purchasers.

Source: Link

eXp Realty Faces Lawsuits Over Fraud, Misconduct

eXp Realty and its parent company, eXp World Holdings, are facing a new lawsuit over alleged fraudulent practices and negligence. The suit, filed in Miami on Friday, accuses several top executives—including CEO Glenn Sanford and eXp Realty CEO Leo Pareja—of allowing agent Megan Featherston to act both as a contractor and an agent on properties, despite company policies that prohibit such dual roles.

Plaintiff Michael Ammann, representing himself, claims that despite numerous complaints to eXp, including a formal warning to executives, the company failed to enforce its own policies, leading to over $700,000 in damages. Ammann is demanding a jury trial, potential treble damages, and changes to eXp’s compliance processes.

A spokesperson for eXp has denied the allegations, stating that the claims are without merit.

eXp World Holdings is also preparing to defend itself against a shareholder lawsuit investigating whether the company and its executives failed to disclose allegations that top agents, or “Influencers,” and executives were accused of sexually assaulting eXp’s real estate agents at company events.

Source: Link

Housing Market Slows Sharply in December

The housing market in December experienced its slowest seasonal slowdown in nearly two years, as both buyers and sellers pulled back over the holidays. According to Realtor.com’s December housing report, homes spent an average of 70 days on the market, the longest December wait in five years. Inventory also fell sharply—down 8.6% from November—while mortgage rates rose to 6.85%, keeping many would-be buyers sidelined.

Despite these slowdowns, some positive signs emerged: homes under contract increased by 7.4% year-over-year, and while home prices dropped slightly to a median of $402,502, the typical listing price per square foot edged up by 1.3%.

Looking ahead, experts predict a slight rebound in 2025, with mortgage rates expected to dip to an average of 6.3%, giving both buyers and sellers a bit more flexibility.

Source: Link

About “3 Things You Need to Know” on OnTrack Agent.

3 Things You Need to Know” delivers concise, no-nonsense real estate news, ensuring that agents stay informed and ahead of the curve.

Stripping away editorial commentary, the show focuses on the key developments shaping the real estate industry and the broader U.S. economy.

Whether it’s market trends, legislative changes, or economic shifts, each episode distills the most important information into easily digestible segments.

Designed specifically for real estate professionals, “3 Things You Need to Know” equips agents with the insights they need to make informed decisions and thrive in a competitive landscape.

Stay connected to the pulse of the industry with timely updates that matter each weekday, Monday through Friday.

 

3 Things You Need to Know – Copyright 2025 – OnTrack Agent

Buy Now

---