NEW YORK (AP) — This week, Wall Street will receive important updates concerning the U.S. housing market and unemployment claims. On Thursday, the U.S. is set to publish its August report on newly-built home sales, which will cover both completed home sales and contracts for homes under construction. This report is distinct from the monthly existing home sales report, which focuses on previously occupied homes.
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The new homes report aims to provide insights into the supply and demand dynamics in the housing sector, offering valuable information to economists and Wall Street about market conditions for home builders and related construction materials companies. Economists anticipate a slight increase in new home sales for August, contrasting with the recent decrease reported for existing home sales. The wider housing market continues to face challenges due to rising mortgage rates and home prices.
Mortgage rates were already at historically high levels heading into 2026 and have risen further this year, influenced by the ongoing conflict in Iran, which has disrupted global oil supplies. The subsequent surge in oil prices has driven up long-term bond yields, which lenders use to set home loan rates.
Additionally, the U.S. will release its weekly unemployment claims report on Thursday. This report is closely monitored as claims for jobless benefits serve as an indicator of layoffs and overall job market health. Claims have remained relatively steady within a historically low range over the past year, indicating a resilient job market despite inflation pressures affecting consumers and businesses.