Housing Week Ahead: Home Sales, Luxury Trends, and New Inflation Data

The coming week will bring a steady stream of housing market indicators, as well as new reports from the Realtor.com economics team.On Wednesday, senior economist Anthony Smith will have a look at the latest pricing trends in the luxury market with the September Monthly Luxury Report.On Thursday, senior economist Jiayi Xu will publish our September Rent Report, and we’ll see whether the long-running declines in U.S. rents continued. Also on Thursday, Anthony will return with a look at the most recent weekly trends in the housing market.There are a few key indicators to watch this week. On Tuesday, we’ll see September existing-home sales from the National Association of Realtors®.Last month, existing-home sales dropped below a pace of 4 million for the first time in 14 months as higher mortgage rates eroded buyer purchasing power. Since then, mortgage rates have risen even higher, so I’m not expecting a strong reading. I expect to see a decline in sales volume from both August and a year ago. I'll also have an eye on prices. Last month’s median home sales price growth was the smallest in four months, and in September, Realtor.com senior economist Jake Krimmel found a rising share of...