|For the Week Ending January 24, 2020|
Please enjoy this quick update on what happened this week in the housing and financial markets.
|Stocks across the globe are taking a hit this week as investors react to mounting concerns about a deadly virus in China and its effect on travel and spending.|
|President Trump is threatening more tariffs on European auto imports if the bloc doesn't agree to a trade deal. Trump has delayed imposing these tariffs a number of times.|
|Jobless claims rose slightly last week to 211,000 but were still lower than expected. The labor market continues to tighten, even as job growth is slowing.|
|New home builders can't keep up with demand. Even with an above average pace of construction, it would take 4-5 years to get back to a balanced market.|
|Existing home inventory is just as bad, as supply in December hit the lowest level since tracking began in 1982. Current supply would sell out in just 3 months.|
|The huge imbalance between supply and demand contributed to a jump in prices. The median home price in December was up 7.8%, the biggest annual increase in almost 4 years.|
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Here is the Video version of this week's Markets in a Minute:
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