• The Fed’s preferred inflation gauge rose 0.4% in February and 5.4% year over year, the highest since 1983 but still lower than expected.
  • According to ADP, companies added jobs at a solid pace in March, indicating that hiring is strong despite signs of a tightening labor market.
  • Unemployment claims rose by more than forecast last week to 202K, likely a blip in an otherwise recovering labor market.

  • Pending home sales fell 4.1% in February compared with January. However, purchase applications were up by 1% on the week.
  • Home prices nationally rose 19.2% year over year in January, up from 18.9% in December, according to the CoreLogic Case-Shiller Index.
  • Millennials make up 43% of homebuyers, and Baby Boomers account for 42% of home sellers, according to NAR’s Generation Trends Report.