New construction rebounded in February following weather disruptions in January. Existing home sales also jumped in February but remain down from a year ago. Existing home supply remains very tight but is up slightly from last year. Jobless claims remain…

The Fed left interest rates and overall monetary policy unchanged today. We have now had five straight meetings with no change in rate policy. The Fed is effectively on cruise control, leaving rate policy restrictive and continuing to sell off…

Headline inflation accelerated further in February, according to the Consumer Price Index (CPI). The headline aggregate measure increased on a seasonally adjusted basis and marked two months in a row of acceleration, the highest monthly increase since August. However, on…

Job growth in February accelerated and was stronger than expected, but prior job numbers were revised down substantially. Some metrics indicate weakening – like the downward revisions, slower wage growth, and higher unemployment rate. However, the three-month average for job…

The new-vehicle seasonally adjusted annual rate (SAAR), or sales pace, improved to 15.8 million in February, up from 15.0 million in January, which was impacted by winter weather. An update on new-vehicle sales in February was published this morning. Real…

Existing home sales increased modestly in January, as the bottom in home sales was likely in 2023. However, the existing home supply remains only half of what is considered normal, and home prices still show above-average year-over-year increases. Jobless claims…