1 Million Leave Workforce as Home Prices Hit $434K Record

Existing home sales stayed flat for a fourth straight year in July, holding at 4.06 million — even as the labor market took an unexpected hit. Matt Lombardi and Steve Kaempf break down a July jobs report that showed a surprise loss of 23,000 jobs against expectations of an 83,000 gain, with May and June revised down another 103,000 jobs. Nearly a million people left the labor force over the past two months, even as unemployment dropped to 4.1%.Despite the shaky job numbers, home prices hit a new record of $434,100, marking 37 straight months of year-over-year growth, while inventory remains tight at a 4.6-month supply. They also cover Compass's strong Q2 earnings beat, Missouri voters rejecting two controversial tax ballot amendments, Illinois' new authority to regulate insurance rate hikes, a fresh Illinois accelerator program targeting the housing shortage, and which Chicago-area neighborhoods are seeing the fastest price growth.New episodes of Market Trends drop every week — subscribe so you don't miss the next one.#HousingMarket2026 #ExistingHomeSales #JobsReport #MarketTrends #RealEstateNews #LaborMarket #RealEstateInvesting #ChicagoRealEstate #Compass #RealtorLife #peoplenottitles #marketupdates Full episodes available at www.peoplenottitles.comPeople, Not Titles podcast is hosted by Steve Kaempf and is dedicated to lifting up professionals in the real estate and business community. Our inspiration is to highlight success principles of our colleagues.Our Success Series covers principles of success to help your thrive!Website: http://peoplenottitles.com/ YouTube: https://www.youtube.com/@peoplenottitles/videosInstagram: https://www.instagram.com/peoplenottitles/ Linkedin: https://www.linkedin.com/in/stephen-kaempf-b66a8013/ X: https://x.com/sjkaempfSpotify : https://open.spotify.com/show/1uu5kTvBhxsbgjskQS1SXK