Weekly Market Observations - May 7, 2025

Here’s Our Weekly Market Observations :

Economy

🔼 Jobs up by 177k in April, above expectations

↔️ Unemployment rate remains at 4.2%

↔️ PCE above expectations, mostly flat MOM at 0.1% and 2.3% YOY

🔽 PPI drops 0.4% MOM in March and up 2.7% YOY

🔽 CPI up 0.1% MOM and 2.4% YOY, lower than expected

🔼 Unemployment up slightly to 4.2%

Housing Sales

🔽 March home resales down 5.9% MOM and 2.4% YOY

🔼 Resale prices increase 2.7% YOY to $403,700

🔼 Existing home inventory increased from 3.2 to 4 months

🔼 February pending home sales increased 2% MOM but dropped 3.6% YOY

Housing Construction

🔽 Total February housing permits dropped 6.8% YOY

↔️ Single-family permits flat MOM, but dropped 3.4% YOY

🔽 Single-family starts drop 2.3% YOY

🔽 Multifamily permits decreased 4.3% MOM and 15.7% YOY

🔽 Multifamily starts drop 6.6% YOY

Mortgage

🔽 Average 30-year fixed mortgage: 6.76%