Despite a housing slump, soaring home prices and a shortage of properties are driving solid profit gains for sellers. The profit margin on median-priced homes and condos in the US reached 59% in Q3 2021, according to Attom. Home prices have remained resilient despite the housing market slowdown caused by surging mortgage rates. The nationwide median home price rose 2% to an all-time high of $350,000 in Q3.
62.3%. that is strength. brian: that s definitely strength, and the worry people have is on housing. we don t have those numbers yet. interest rates, people are not going to go buy a house if the interest rates are high and everything stops. this is a strong labor market despite the housing slump, despite the layoffs of some of the big tech companies. we got a report yesterday from adp, private sector employment is really powering ahead, well over 200,000 private sector jobs reported. i will sum it up, it s a strong economy. in terms of the labor market. brian: stewart, who are you going to have in your show? all kinds of people, but not you. brian: [laughs] it has flown by for me. great to see you. meanwhile, straight ahead, bmw is teasing a new colad with arnold schwarzenegger in an epic way. later i will find out what a
away from the opening bell on wall street. investors are hoping to see the markets rally after closing in the red on friday. new data out of this week could show the u.s. housing slump is likely to continue. but it could offer some signs that the worst will soon be over with the job market still strong and wages growing. the clock running down for u.s. lawmakers on capitol hill. they have until friday to pass a new funding bill to keep the government up and running. if they can t meet the deadline, the government will have to shut down. our daniela diaz has more on what s to come. reporter: time is running out. and lawmakers race against the clock to try to pass a government funding bill before friday at midnight. that is when the current funding legislation is set to expire and could trigger a government shutdown here in the united states. however, lawmakers have expressed optimism they ll be able to bake that deadline and pass a bill before then with them announcing republican and