Home sales are down, and so are new listings

By Mark Huffman of ConsumerAffairs

• High home prices and mortgage rates above 6% are keeping buyers on the sidelines, while sellers are responding by pulling listings rather than cutting prices.

• Even after nine straight weeks of declines, with rates dropping to 6.26%, home-purchase applications rose only slightly.

• New listings remain scarce, keeping options tight for buyers.

Home buyers arent buying, in the face of record-high home prices and mortgage rates north of 6%. Sellers are responding, not by lowering prices but by taking their homes off the market.

The result is a housing market standoff. According to real estate brokerage Redfin, pending home sales fell nearly 1% from a year earlier during the four weeks ending September 21.

The dip was a surprise, considering mortgage rates had fallen for several weeks in a row. But the lower borrowing costs were not enough to attract buyers.

The weekly average mortgage rate has fallen to 6.26%, the lowest level in nearly a year and down from roughly 6.9% at the start of summer. The dip was in anticipation of the Feds first interest-rate cut of the year.

But steadily falling mortgage ratesthis marks the ninth straight week of declineshavent brought many homebuyers to the market. And while mortgage applications to refinance homes jumped 58% week over week during the second week of September, mortgage-purchase applications rose just 3%.

Reasons for the stall

Industry analysts say there are several reasons homebuying demand isnt yet improving:

• Stubbornly high home prices. The median U.S. home-sale price is up 2.2% year over year, the biggest increase in nearly six months. Thats keeping monthly housing payments elevated despite falling mortgage rates.

• Mortgage rates havent fallen enough. Redfin agents report that many would-be buyers are waiting for rates to fall below 6% before making a movesomething that may or may not happen.

• Lack of homes coming on the market: New listings of homes for sale are essentially flat year over year, as they have been for two months. The total number of homes for sale is up 8.6%, the smallest increase since the start of 2024. With new listings dwindling as home sellers react to the buyers market, house hunters dont have many options.

• Economic uncertainty. Redfin agents say some house hunters are backing off because theyre concerned about potential layoffs, ups and downs in the stock market, and general uncertainty about tariffs and a possible recession.

Redfin agents in certain areas report that people who are moving forward with home-buying plans are making offers with an increasing number of contingencies and are walking if they dont get what they want.

Sellers can play that game, too

Sellers arent showing much flexibility either. With buyers pulling back, sellers are withdrawing as well, and the increase in housing inventory of the summer dried up by August. Zillow reports new listings in August fell to a record low.

While the recent housing market trends have finally started to favor buyers, Zillow Senior Economist Kara Ng says they shouldnt overplay their hand.

"Buyers who can afford a home and have been waiting for the right moment should look closely at what's available now," Ng said. "Options are on the shelves, even if they're not all fresh.

Ng said sidelined buyers should revisit their budget because mortgage rates are lower than in recent years, and in some markets, sellers are more willing to deal.

But don't expect this window of opportunity to stay open indefinitely. Buyers' leverage is easing as many sellers put their plans to list on hold."

The batter may contain pieces of wood

By Mark Huffman of ConsumerAffairs

• Hillshire Brands is recalling 58 million pounds of corn dog and sausage-on-a-stick products packaged from March 17September 26, 2025, for possible wood pieces in the batter.

• Products were sold nationwide online and to retail, food service, school districts (not via USDAs NSLP), and DoD facilities; the issue surfaced after multiple consumer complaints, including five injuries.

• Do not consumecheck fridges/freezers, discard or return; see FSIS for product lists/labels and distribution details. Contacts: Consumer Care 888-747-7611, Media 810-391-6680, USDA Hotline 888-674-6854.

The Hillshire Brands Company has issued a major recall of approximately 58 million pounds of corn dog and sausage on a stick products that may be contaminated with extraneous material, specifically pieces of wood embedded in the batter.

The company has received multiple complaints from consumers, including five reports of injuries. The U.S. Food Safety and Inspection Service has classified the recall as Class I, the highest threat level.

The corn dog and sausage on a stick products were packaged between March 17, 2025, and September 26, 2025. A list of the products subject to recall can be found here.

The products subject to recall bear establishment number EST-582 or P-894 printed on the packaging. These items were sold online and shipped to retail and food service locations nationwide.

Nationwide distribution

They were also sold to school districts and Department of Defense facilities nationwide. While the products were distributed to schools, they resulted from commercial sales and were not part of the food provided by the USDA for the National School Lunch Program.

After receiving complaints, the Hillshire Brands Company conducted an investigation and determined that the wooden sticks entered the production process prior to product battering. FSIS has received no additional reports of injury from consumption of these products. Anyone concerned about an injury should contact a healthcare provider.

FSIS is concerned that some products may be in consumers refrigerators and freezers, along with school and institutional refrigerators and freezers. Consumers, schools, and institutions that have purchased these products are urged not to consume them. These products should be thrown away or returned to the place of purchase.

Consumers with questions about the recall can contact Christina Self, The Hillshire Brands Company Associate Director of Customer Care, at 888-747-7611. Members of the media with questions about the recall can contact MaKenzie Taylor, The Hillshire Brands Company Communications Manager, at 810-391-6680.

The D.C. region feels the economic blow as do other sections of the country

• Thousands of federal employees lose pay as deferred resignations, firingstake effect.

• Unemployment rising faster than the national average in affected areas, with federal job cuts piling on.

• A looming government shutdown could deepen the economic pain for workers and contractors.

When the fiscal year ends Tuesday, thousands of federal employees on paid leave will officially exit the government payroll. In addition, the White House budget office has told agencies to prepare for mass firings if a shutdown occurs, raising the prospect of another blow to the civil service. We see a lot of strong early warning signs, said Tracy Hadden Loh, a fellow at Brookings Metro, in a Washington Postreport.

The Washington region in particular faces economic hardship as paychecks stop coming for thousands of federal employees who accepted the governments deferred resignation offer. The change coincides with the threat of a federal shutdown, which could delay pay for those who remain on the job and cut off income altogether for contractors.

Although most acutely felt in the D.C. region, the cutbacks are biting into the economy throughout the country, especially in areas with large numbers of federal employees and military installations.Cities with high federal or agency presence face disproportionate vulnerability. These include Baltimore, Atlanta, Denver, Houston, Ogden (UT), Tampa, San Antonio, and smaller metros reliant on VA hospitals or federal research sites.

The Washington regions unemployment rate has climbed more than eight times faster than the national rate since January, according to a Brookings Institution analysis. Federal job losses have accelerated, while the share of residents with low credit scores and homes for sale has grown more quickly than elsewhere in the country. Private sector job growth has stalled, leaving the economy with little cushion against government cuts.

The American Communities Project mapped federal employment by county, finding that many smaller counties (including those with military bases, federal labs, or federal land) have 5 % or more of the workforce tied to the federal government.

A report from the Atlanta Fed estimates thatthe federally supported workforce (i.e. including contractors/grant recipients) could number in the millions, so layoffs could ripple further than just the civil service.

Workers describe despair in job search

For many federal employees, the hardship has already begun. One former State Department worker said he has applied for more than 50 jobs without success.

Some employees accepted the resignation offer because they were near retirement. Others left out of principle or fear of termination. The initiative, pushed by PresidentTrump and billionaire Elon Musk through the U.S. DOGE Service, was billed as part of a sweeping reorganization of the federal bureaucracy. More than 154,000 federal workers nationwide had volunteered to resign while still drawing pay earlier this year, with officials estimating that roughly 275,000 will have departed through buyouts and retirements by the end of the fiscal year.

In the Washington metro area, where one in ten jobs are federal and many others depend on federal spending, the cuts land especially hard. Private sector growth is not making up the difference. DOGE has been a disaster for Washington, D.C., said Ankit Jain, one of the citys shadow senators. For some, the question now is whether to stay in the region at all or to leave behind lives and careers built around federal service.

Fewer firm plans have been announced in the lead-up to the latest possible shutdown

By Truman Lewis of ConsumerAffairs

A looming government shutdown will be felt by travelers throughout the nation. Expect longer airport lines, national park closures and other disruptions. The witching hour is 12:01 a.m. Wednesday and there's little sign of progress in Congressional negotiations. President Trump plans to meet with the four Congressional leaders Monday but the outcome remains uncertain.

Fewer preparations have been announced then in the lead-up to previous closures as federal agencies struggle with staffing shortages resulting from the earlier government cutbacks.

Most airport employees, including TSA agents and air traffic controllers, are required to work without pay but previous shutdowns have seen delays as workers call in sick. National park staff with be furloughed and parks may be closed, although no official announcements has been made.

Notably, Amtrak will not be affected. It is an independent federal corporation and is not dependent on Congressionalfunding.

The Smithsonian Museums in Washington are expected to remain open, for at least a few days.

Passports will continue to be issued and border entry points will be staffed.

Tourism is likely to be hit hard. An industry group spokesman said financial losses would likely amount to at least $1 billion per week.