Weekly Market Observations - May 14, 2025

Here’s Our Weekly Market Observations :

Economy

🔽 CPI up 0.2% MOM and 2.3% YOY, below expectations

🔼 Jobs up by 177k in April, above expectations

↔️ Unemployment rate flat 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

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 March housing permits dropped 0.2% YOY

🔽 Single-family permits fell 2% MOM and 0.6% YOY

🔽 Single-family starts drop 9.7% YOY

🔽 Multifamily permits decreased 4.3% MOM and 0.9% YOY

🔼 Multifamily starts up 47.8% YOY

Mortgage

↔️ Average 30-year fixed mortgage: 6.76%