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Consumer Daily Reports

Home sales are down, and so are new listings

By Mark Huffman Consumer News: There’s a standoff between buyers and sellers in the housing market of ConsumerAffairs
September 29, 2025
  • 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."




Posted: 2025-09-29 12:49:43

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More News From This Category

Consumer News: Auto Safety Recall Derby, Week of Sept. 29, 2025

Mon, 29 Sep 2025 19:07:07 +0000

Luxury badges Porsche, Lamborghini, Audi make an appearance with fuel pump leaks that could start a fire

By News Desk of ConsumerAffairs
September 29, 2025

Ford Takes the Wheel Auto Safety Recall Derby, Week of Sept. 29, 2025

Each week, NHTSA recalls roll in, and we round them up in one place. This weeks spotlight: Ford dominates the list with fire risks, steering failures, and more.


Grabber Recall of the Week

Ford F-Series Super Duty (20202021)
Steering columns may detach, causing a total loss of steering control (25V626). For one of Americas best-selling trucks, thats a dangerous and embarrassing fumble.


Other Notable Mentions

  • Luxury Fire Club: Porsche, Lamborghini, and Audi all recalled 20242026 models for fuel pump leaks that could spark fires. Even six-figure rides arent safe from the flames.

  • Embarrassing Repeat Offender: BMW (plus Toyota Supra) recalled multiple 20192022 models for starter corrosion that can overheat.

  • EV Fleet Jolt: MCI and New Flyer electric buses recalled for battery systems at risk of short-circuiting.


Full Recall Roundup

Electronics & Visibility

Trim & Body

Fire Hazards Fuel & Engine

High-Voltage Battery Systems


Recall Leaderboard (Year-to-Date)

         Ford (3)
    BMW (2)      Porsche (2)

Takeaway

Ford steals the show this week with multiple recalls across trucks and SUVs, including a dangerous steering defect. Luxury brands didnt escape either, with Porsche, Lamborghini, Audi, and BMW all fighting fires of their own.

Owners should check their VIN at NHTSA.gov/recalls to confirm if their vehicle is affected.



Read More ...


Consumer News: Gold prices hit another record high

Mon, 29 Sep 2025 16:07:08 +0000

There are some new drivers adding to the momentum

By Mark Huffman of ConsumerAffairs
September 29, 2025
  • Prices are fueled by familiar drivers such as low real interest rates, inflation concerns, geopolitical instability, a weaker U.S. dollar, and steady central bank buying.

  • Record ETF inflows, more aggressive central bank purchases, and growing doubts about U.S. fiscal stability and the dollars dominance are intensifying demand.

  • Analysts caution that a stronger dollar, delayed Fed rate cuts, or improving global risk sentiment could trigger a pullback despite the powerful momentum.


Gold surged to yet another record high to start the week, surpassing $3,800 a ounce in Mondays trading. The relentless rally has been driven by the same forces that have supported prices all year, but now are being amplified by new momentum.

The familiar drivers remain firmly in place. Low or falling real interest rates keep non-yielding gold attractive. Inflation concerns sustain its role as a hedge.

The year has been marked by geopolitical instability and a weaker U.S. dollar, both of which continue to fuel safe-haven demand. Finally, central banks are still building reserves at a steady pace.

"Some people describe gold as the sum of all fears, whether they're economic or political, and it's quite clear that at the moment we've got issues on both sides," market analyst Ross Norman, told Reuters.

Emerging factors

But 2025 has added new accelerants. Record inflows into gold-backed ETFs have transformed the metal into a mainstream portfolio asset.

Central banks appear less sensitive to price swings, buying aggressively regardless of levels. Growing doubts over U.S. fiscal stability and dollar dominance are pushing more reserve managers toward gold.

At the same time, expectations of Federal Reserve rate cuts later this year are lowering the opportunity cost of holding gold, while momentum traders and fear-of-missing-out flows are reinforcing the rally after prices vaulted past key resistance levels.

Still, analysts warn the surge is not invincible. A stronger dollar, delayed rate cuts, or a sharp reversal in global risk sentiment could trigger a pullback. For now, though, golds combination of old and new drivers continues to shine, sending prices into uncharted territory.


Read More ...


Consumer News: Hillshire Brands recalls 58 million pounds of corn dog products after five injuries

Mon, 29 Sep 2025 13:07:08 +0000

The batter may contain pieces of wood

By Mark Huffman of ConsumerAffairs
September 29, 2025
  • 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.


Read More ...


Consumer News: Federal layoffs beginning to be felt as DOGE cutbacks take effect

Mon, 29 Sep 2025 04:07:07 +0000

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

By James R. Hood of ConsumerAffairs
September 29, 2025

  • 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.

Photo

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.


Read More ...


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