HousingWire Daily No more rate cuts? Fed member notes 'robust' labor market
8 snips
Sep 23, 2025 
Logan Mohtashami, a lead analyst specializing in housing market data, joins to discuss the latest trends in inventory and purchase applications. He suggests that housing inventory may not have peaked yet. Logan highlights the Federal Reserve's focus on a strong labor market and their hesitation to cut rates despite economic pressures. He also shares insights on upcoming sales data and how mortgage rates impact builders, along with reflections on potential changes in Fed leadership.
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Inventory May Not Have Peaked
- Logan Mohtashami believes inventory has not yet peaked and may hold for only a few more weeks before seasonal decline.
- He compares this to last year when sales rose while inventory still grew into October.
Watch Multiweek Purchase-App Trends
- Track purchase-app and inventory trends over multiple weeks rather than reacting to single-week rate moves.
- Look for 12–14 weeks of positive purchase-app data to confirm meaningful housing market improvement.
Fed Officials Want Labor Weakness
- Several Fed presidents signaled they want to see more labor-market weakness before cutting rates.
- Logan highlights public comments calling the labor market "robust" as a barrier to near-term rate cuts.