Podcast Summary: "One Last Homebuyer Gasp"

Podcast: Your Money Minute (CNBC)
Host: Jessica Ettinger
Date: November 27, 2025
Episode Theme:
A rapid update on surprising homebuyer activity in the US real estate market as the year winds down, with data-driven context on mortgage demand, price trends, and shifting buyer/seller dynamics.

Main Theme

The episode examines an unexpected surge in homebuying activity at the start of November—typically a slow period for real estate—highlighting how changing supply, pricing, and seasonal patterns are influencing buyer and seller behavior.

Key Discussion Points & Insights

Unseasonal Mortgage Demand (00:00–00:16)

• Context:
  Jessica Ettinger notes that, despite the approach of the traditionally slow holiday season, "home buyers are giving it one last go"—with surprisingly high mortgage demand in the first week of November.
• Insight:
  Seasonality usually means fewer buyers during this period, so growing demand signals a unique shift in market sentiment.

Key Mortgage Application Statistics (00:16–00:29)

• Fact:
  Diana Olick reports:
  • "Mortgage applications to buy a home rose 6% to their strongest pace since September." (00:18)
  • "Volume was 31% higher than the same week one year ago." (00:21)
• Takeaway:
  There is not only intra-year growth but also a notable jump over last year's numbers, indicating renewed buyer urgency.

Buyer and Seller Dynamics (00:29–00:43)

• Market Shifts:
  • Buyers may be "making maybe one last gasp," per Olick (00:31), motivated by:
    • Increased housing supply
    • Softening prices
  • Sellers remaining on the market are "making better deals right now," incentivizing buyers before winter slows activity further.
• Quote:
  Diana Olick:

  "Folks are just saying, before everything locks up in winter, maybe I'll make a try at getting a better deal." (00:38)

• Implication:
  Sellers are more negotiable, and buyers see a window of opportunity before the typical winter slowdown.

Price Trends & Regional Insights (00:43–01:08)

• National Trends:
  • "For October, home prices rose overall in the US from September...but the average increase was less than 1% and condo prices fell." (00:44)
• Regional Variations:
  • More than 30 cities saw price drops, including notably hot markets like Austin, TX, and Tampa, FL.
• Source Attribution:
  Data cited from Intercontinental and market-specific details provided for realism and depth.

Further Resources (01:06–01:08)

• Listener Action:
  Jessica Ettinger redirects listeners:

  "You can read a lot more about real estate at cnbc.com." (01:06)
  Reinforces CNBC’s continued coverage of real estate trends.

Notable Quotes

• Jessica Ettinger (00:02):

  "Even though we're heading into what's typically the slowest time of the year for the real estate market, the holidays, it looks like home buyers are giving it one last go—strong mortgage demand, at least in the first week of November."

• Diana Olick (00:18):

  "Mortgage applications to buy a home rose 6% to their strongest pace since September, according to the Mortgage Bankers Association. Now volume was 31% higher than the same week one year ago."

• Diana Olick (00:31):

  "Homebuyers seem to be making maybe one last gasp, likely because of more supply on the market and softening prices. For those sellers that are on the market, they're making better deals right now."

• Jessica Ettinger (00:44):

  "For October, home prices rose overall in the US from September in data from Intercontinental, but the average increase was less than 1% and condo prices fell."

Timestamps for Important Segments

• 00:00: Opening; context on seasonal slowdown and unexpected demand
• 00:16: Data on mortgage applications and year-over-year comparison
• 00:29: Buyer “last gasp” and influence of increased inventory/softer pricing
• 00:43: Price trends—national and regional drop highlights
• 01:06: Recommendation for more real estate coverage at cnbc.com

Episode Tone

Matter-of-fact, informative, and concise—true to CNBC's practical and data-driven style, with a focus on actionable, current insights for listeners interested in the real estate market.