New home sales took a tumble in March, HUD and the Census Bureau reported Tuesday, hamstrung by the usual suspects: rising interest rates; inadequate inventories and rapidly increasing home prices.
Tag: Wells Fargo Economics
April Consumer Confidence Ticks Down
The Conference Board, New York, reported its Consumer Confidence Index decreased slightly in April, following an increase in March.
Initial Claims Hold Near 52-Year Lows; Leading Economic Indicators Improve
Initial claims for unemployment insurance hovered near historic lows last week, the Labor Department reported Thursday. In a separate report, the Conference Board, New York, reported its Leading Economic Index rose in March, the second consecutive monthly improvement.
Housing Market Roundup Apr. 21, 2022
Here is a summary of housing/economic stories that recently came across the MBA NewsLink desk:
March Existing Home Sales Drop Nearly 3%
Existing home sales fell for the second straight month in March, the National Association of Realtors reported Wednesday, as buying conditions worsened from inadequate housing supply, elevated home prices and rising mortgage interest rates.
Multifamily Gives Positive Edge to March Housing Starts
Housing starts improved slightly in March, thanks to a bump in multifamily starts, HUD and the Census Bureau reported Tuesday.
March Consumer Prices Jump 1.2%; Up 8.5% from Year Ago
Inflation roared ahead in March, the Bureau of Labor Statistics reported Tuesday, at a clip not seen since 2005.
March Jobs Report Continues Strong Trend
U.S. employers added 431,000 jobs in March, the Bureau of Labor Statistics reported Friday, while the nation’s unemployment rate fell to 3.6 percent.
GDP Report Shows Economy Roaring Along, but Inflation Taking Bite Out of Profits
U.S. gross domestic product fired on all cylinders in the fourth quarter, the Bureau of Economic Analysis reported Wednesday, although rising prices cut into corporate profits.
March Consumer Confidence Improves
The Conference Board, New York, reported its Consumer Confidence Index increased for the first time this year, albeit just slightly.