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Wall Street will get a key update this week on the U.S. housing market, along with an unemployment update. On Thursday, the U.S. will release its August report for sales of newly-built homes. It details the sale of brand-new homes and sales contracts for homes that are under construction. That differentiates it from the monthly report on existing home sales. The U.S. will also release its weekly report for unemployment claims on Thursday. Claims for jobless benefits are a proxy for layoffs, and economists watch them because they can be a sign of where the job market is headed.

PHILADELPHIA--(BUSINESS WIRE)--Sep 14, 2026--

Donald Trump’s childhood home has sold for nearly $2 million after a renovation transformed the New York City residence from a mold-ridden cat den to modern abode. The president lived at the Tudor-style Queens estate until age 4. His father, developer Fred Trump, built the home in 1940. The family hasn’t owned it in years. The sale price, $1.93 million, appeared Friday on real estate websites after a buyer, whose name hasn’t been disclosed, entered into a contract in July.

Sales of previously occupied U.S. homes declined in August to their slowest annual pace in more than a year as home shoppers grappled with rising mortgage rates and home prices. The National Association of Realtors said Thursday that existing home sales fell 2% last month from July to a seasonally adjusted annual rate of 3.98 million units. This is the third straight monthly decline. Sales also fell 1.2% compared with August last year. The last time the annual sales pace came in below 4 million was June 2025. The U.S. median sales price increased 1.6% in August from a year earlier to $429,100, an all-time high for the month of August.

The poorest people in the U.S. face the most acute shortage of affordable homes. That’s partly because the majority of low-income housing financed in recent years has been for those earning at least 50% of an area’s median income. Now, some cities are seeing an uptick in vacancies in these units as their rents approach those of market-rate apartments. As a result, some people who qualify are opting for market-rate apartments with less income-verification requirements and a faster chance of approval. It’s creating a paradoxical situation where some affordable units sit empty because the poorest people still can’t afford to rent them. Experts say more federal funding for housing vouchers is needed to bridge this gap.

TEXAS CITY, Texas--(BUSINESS WIRE)--Sep 3, 2026--