The Fed hiked policy rates 0.25% at this week's meeting. Most Fed officials forecast at least one more rate hike by year's end.

August retail sales posted their biggest gain since March. Consumers continued spending despite rising gasoline prices.

In another sign of labor market stability, jobless claims fell unexpectedly last week. The drop could be due to the Labor Day holiday.

Builder confidence hit its lowest level in a year, per NAHB. Mortgage rates, labor shortages, and rising construction costs took a toll on optimism.

NAR reports pending home sales nudged up unexpectedly in August, rising 0.3% from July, though they were down 4.7% year over year.

Single-family housing starts rose 7.6% in August, per the U.S. Census Bureau. Starts fell 2.6% when factoring in multi-family construction.