{"id":36095,"date":"2015-08-31T08:00:59","date_gmt":"2015-08-31T15:00:59","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=36095"},"modified":"2020-10-06T17:08:28","modified_gmt":"2020-10-07T00:08:28","slug":"the-fed-speaks-and-the-housing-market-braces-for-friday","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/the-fed-speaks-and-the-housing-market-braces-for-friday\/","title":{"rendered":"The Fed Speaks and the Housing Market Braces for Friday&#039;s Jobs Report"},"content":{"rendered":"<p><strong><a href=\"https:\/\/redfin.com\/blog\/wp-content\/uploads\/2015\/06\/Banner_C.png\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-33527 size-full\" src=\"https:\/\/redfin.com\/blog\/wp-content\/uploads\/2015\/06\/Banner_C.png\" alt=\"housing market\" width=\"1280\" height=\"550\" \/><\/a><\/strong><br \/>\n<strong>Whee!<\/strong> August has never been so thrilling. This week, we&#8217;ll ride\u00a0the financial roller-coaster into Friday, when we get the most important jobs report of all time. Fortunately, the sun is shining somewhere, Google says. Speaking of sun, there&#8217;s a Florida mansion that&#8217;s just not big enough for the both of us:\u00a0<a href=\"http:\/\/serenawilliams.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Serena<\/a> and Venus are getting their own crash pads. <strong>Read on.<\/strong><\/p>\n<h2>Mud Season in Jackson Hole<\/h2>\n<p><span style=\"font-weight: 400\">Global stocks fell after Fed VIP Stanley Fischer <a href=\"http:\/\/www.federalreserve.gov\/newsevents\/speech\/fischer20150829a.htm\" target=\"_blank\" rel=\"noopener noreferrer\">said<\/a> over the weekend that there was a <\/span><span style=\"font-weight: 400\">\u201cpretty strong case\u201d for raising interest rates in September. He made no promises (Fed VIPs never do) and we still don\u2019t know what the central bank will do when they meet Sept. 16 and 17.\u00a0<\/span><br \/>\n<span style=\"font-weight: 400\">Fischer spoke at the Fed&#8217;s annual confab in <a href=\"http:\/\/www.jacksonholenet.com\/weather\/\" target=\"_blank\" rel=\"noopener noreferrer\">Jackson Hole<\/a>, where everyone was looking for A Sign. If there was one, it was <a href=\"https:\/\/redfin.com\/blog\/2015\/08\/mortgage-rate-watch-no-bad-news-here.html\" target=\"_blank\" rel=\"noopener noreferrer\">clear as mud<\/a>. That never stops traders, though, and it looks like we&#8217;re\u00a0in for another rough-and-tumble week in financial markets.<\/span><br \/>\nIt\u2019s been almost a decade since the Fed raised rates, which is what you\u2019re supposed to do when the economy is doing well. The U.S. <i>is <\/i>doing pretty well. We&#8217;re creating jobs, buying stuff, and <a href=\"https:\/\/redfin.com\/blog\/2015\/08\/home-sales-up-in-july-as-supply-hovers-near-record-lows-2.html\" target=\"_blank\" rel=\"noopener noreferrer\">home prices<\/a> are rising. Things <a href=\"https:\/\/redfin.com\/blog\/2015\/08\/job-gains-are-good-for-housing-market-anemic-wage-growth-not-so-much.html\" target=\"_blank\" rel=\"noopener noreferrer\">aren\u2019t perfect<\/a>\u00a0though, and now folks worry that big trouble in not-so-little <a href=\"http:\/\/www.cnbc.com\/2015\/08\/31\/goldman-takes-a-knife-to-china-gdp-forecasts.html\" target=\"_blank\" rel=\"noopener noreferrer\">China<\/a>\u00a0will throw us off course.<br \/>\nWe&#8217;ll get an important read on the economy Friday from the monthly jobs report.<span style=\"font-weight: 400\">\u00a0Here&#8217;s a <a href=\"http:\/\/docs.ftnfinancial.com\/?3fff9621-b7c1-4479-971c-0fa598423696\" target=\"_blank\" rel=\"noopener noreferrer\">rundown<\/a>\u00a0from FTN Chief Economist <a href=\"http:\/\/www.ftnfinancial.com\/Speakers\/default.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">Chris Low<\/a>.<\/span><\/p>\n<h2>Sellers,\u00a0read this<\/h2>\n<p>Homebuyers might be tuning out. <span style=\"font-weight: 400\">The market usually cools off in August, but we see signs of a more enduring <strong>slowdown<\/strong> as high prices turn off house hunters.<\/span><br \/>\n<span style=\"font-weight: 400\">Demand <\/span><span style=\"font-weight: 400\">fell for the fourth-straight month in July, the <\/span><span style=\"font-weight: 400\"><a href=\"https:\/\/redfin.com\/blog\/2015\/08\/redfin-july-forecasts-hit-the-mark-as-housing-demand-cools-for-fourth-consecutive-month.html\">Redfin Housing Demand Index <\/a>\u00a0shows. The index<\/span><span style=\"font-weight: 400\">\u00a0tracks home tour requests, purchase offers and other metrics to give an\u00a0early look at what\u2019s happening in the market.<\/span><br \/>\n<span style=\"font-weight: 400\">Our forecast for September isn&#8217;t terrible, but\u00a0<\/span><span style=\"font-weight: 400\">we expect buyers will continue to lose interest into the fall.<\/span><br \/>\n<a href=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2015\/08\/Redfin-Demand-Index-August-2015-1.png\"><img decoding=\"async\" class=\"aligncenter wp-image-36102 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2015\/08\/Redfin-Demand-Index-August-2015-1.png\" alt=\"housing market\" width=\"720\" height=\"384\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2015\/08\/Redfin-Demand-Index-August-2015-1.png 720w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2015\/08\/Redfin-Demand-Index-August-2015-1-300x160.png 300w\" sizes=\"(max-width: 720px) 100vw, 720px\" \/><\/a><\/p>\n<h2>Etc.<\/h2>\n<p><b>Poof! $60 billion, gone.\u00a0<\/b><span style=\"font-weight: 400\">Don\u2019t worry, it\u2019s a good thing. Budget gurus said the <a href=\"https:\/\/www.cbo.gov\/publication\/50724\" target=\"_blank\" rel=\"noopener noreferrer\">U.S. deficit<\/a> isn\u2019t as bad as we thought&#8211;only $426 billion instead of the $486 billion estimated earlier this year. It&#8217;s a sign the economy is doing better. Still, we\u2019re headed for another spending\u00a0brouhaha this fall.<\/span><br \/>\n<span style=\"font-weight: 400\"><strong>NOT junk mail.\u00a0<\/strong>You might be one of 1.2 million households getting a <a href=\"http:\/\/directorsblog.blogs.census.gov\/2015\/08\/24\/the-2015-national-content-test-is-now-underway\/?eml=gd&amp;utm_medium=email&amp;utm_source=govdelivery\" target=\"_blank\" rel=\"noopener noreferrer\">Census form<\/a> this week. Fill it out! Even with the invention of the interwebs, the plain ol\u2019 Census is still our best measure of the U.S. economy. It also helps Congress figure out where to spend our tax dollars.<\/span><br \/>\n<span style=\"font-weight: 400\"><strong>Google knows.<\/strong> Do you live on the <\/span><span style=\"font-weight: 400\"><a href=\"https:\/\/www.youtube.com\/watch?v=bJW3fVpgAfw\" target=\"_blank\" rel=\"noopener noreferrer\">sunny side of the street<\/a><\/span><span style=\"font-weight: 400\">? If your house is in the Bay Area, <a href=\"https:\/\/redfin.com\/city\/6904\/CA\/Fresno\/real-estate#!v=8&amp;sst=&amp;region_id=6904&amp;region_type=6&amp;market=sacramento\" target=\"_blank\" rel=\"noopener noreferrer\">Fresno<\/a> or greater Boston, Google will tell you if it&#8217;s worth it to\u00a0<\/span><span style=\"font-weight: 400\"><a href=\"https:\/\/www.google.com\/get\/sunroof#\" target=\"_blank\" rel=\"noopener noreferrer\">go solar<\/a><\/span><span style=\"font-weight: 400\">. Looks like Sunnyside Country Club lives up to its name. (Coolness factor: Very high.)<\/span><a href=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2015\/08\/sunnyside-country-club.png\"><span style=\"font-weight: 400\"><br \/>\n<\/span><\/a><a href=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2015\/08\/sunnyside-country-club.png\"><img decoding=\"async\" class=\"aligncenter wp-image-36096 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2015\/08\/sunnyside-country-club.png\" alt=\"sunnyside country club\" width=\"1008\" height=\"537\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2015\/08\/sunnyside-country-club.png 1008w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2015\/08\/sunnyside-country-club-300x160.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2015\/08\/sunnyside-country-club-768x409.png 768w\" sizes=\"(max-width: 1008px) 100vw, 1008px\" \/><\/a><br \/>\n<strong>How They Live.<\/strong>\u00a0Longtime roomies Serena and Venus <a href=\"http:\/\/variety.com\/2015\/dirt\/real-estalker\/venus-and-serena-williams-sell-loft-in-new-york-citys-garment-district-1201569531\/\" target=\"_blank\" rel=\"noopener noreferrer\">sold<\/a> their cool New York loft and are building their own mansions after sharing an estate near <a href=\"https:\/\/redfin.com\/city\/14007\/FL\/Palm-Beach-Gardens\/filter#!v=8&amp;sst=&amp;region_id=14007&amp;region_type=6&amp;market=florida\" target=\"_blank\" rel=\"noopener noreferrer\">Palm Beach Gardens<\/a>.<br \/>\n<strong>Shameless Plug Dept. <\/strong><a href=\"https:\/\/redfin.com\/blog\" target=\"_blank\" rel=\"noopener noreferrer\">Redfin<\/a> agents move into <a href=\"https:\/\/redfin.com\/blog\/2015\/08\/redfin-agents-have-arrived-in-the-piedmont-triad-region-in-north-carolina.html\" target=\"_blank\" rel=\"noopener noreferrer\">North Carolina&#8217;s<\/a> Greensboro, Winston-Salem and High Point.<br \/>\nGet all Redfin news &amp; analysis <a href=\"https:\/\/redfin.com\/blog\/category\/real_estate_news_analysis\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>.<br \/>\n<strong>What do you want to know?<\/strong> Email me. Lorraine.woellert@redfin.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whee! August has never been so thrilling. This week, we&#8217;ll ride the financial roller-coaster into Friday, when we get the most important jobs report of all time. Fortunately, the sun is shining somewhere, Google says. In Florida, this mansion ain&#8217;t big enough for the both of us! Serena and Venus are getting their own crash pads.<\/p>\n","protected":false},"author":13355,"featured_media":33527,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8],"tags":[40,32,19],"coauthors":[],"class_list":["post-36095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","tag-environmental","tag-housing-market-tracker","tag-politics"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Fed Speaks and the Housing Market Braces for Friday&#039;s Jobs Report - Redfin Real Estate News<\/title>\n<meta name=\"description\" content=\"This week we&#039;ll ride the financial roller-coaster into Friday&#039;s jobs report. The housing market is slowing, but the sun is shining somewhere, Google says.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/the-fed-speaks-and-the-housing-market-braces-for-friday\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Fed Speaks and the Housing Market Braces for Friday&#039;s Jobs Report\" \/>\n<meta property=\"og:description\" content=\"This week we&#039;ll ride the financial roller-coaster into Friday&#039;s jobs report. 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