The Capital Stewards Founding Partner Brian Seay joins Yahoo Finance Live anchors Jared Blikre and Seana Smit to discuss surging home sales, labor market tightness, inflation, and the Fed.
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The housing market in the United States continues to show signs of strength, with pending home sales rising 8.1% in March, according to the National Association of Realtors (NAR).

This increase, which is the biggest month-over-month gain since 2010, is attributed to a combination of low interest rates and increases in vaccinations, which have allowed for more in-person home tours and transactions.

However, while the housing market is thriving, the Federal Reserve is grappling with a number of challenges, including rising inflation, soaring housing costs, and a tight labor market.

Inflation concerns have been particularly worrisome, with the Consumer Price Index rising 2.6% in March compared to the previous year, the biggest annual jump since August 2018. This has caused some anxiety that the Fed may need to raise interest rates sooner than expected to combat inflation.

Meanwhile, housing costs continue to rise at a staggering pace. The median existing-home price in March was $329,100, up 17.2% from March 2020, according to the NAR. This has made homeownership increasingly unaffordable for many Americans, particularly those living in cities with high demand and limited supply.

The tight labor market is also a major concern. Despite a rebound in job growth in recent months, the unemployment rate remains significantly higher than pre-pandemic levels. This has led to concerns about a potential labor shortage in certain industries, which could limit economic growth and further exacerbate inflation concerns.

To address these challenges, the Federal Reserve has signaled that it will keep interest rates low for the foreseeable future, while also working to support job growth and combat inflation through a range of policy tools.

Ultimately, the rising demand in the housing market is a promising sign for the economy, but the challenges facing the Federal Reserve highlights the need for continued vigilance and proactive policy measures to sustain economic growth and stability.