After reaching a record high in August, pending home sales slid for the fourth consecutive month, as surging home prices and low inventory started to impede the housing market. The Pending Home Sales Index (PHSI), reported by the National Association of Realtors (NAR), is a forward-looking indicator based on signed contracts. The PHSI fell 0.3% from 125.9 in November to… Read More ›

Weekly initial jobless claims declined slightly to 847,000 in the week ending January 23. Continuing claims, which lag initial jobless claims by one week, decreased by 203,000 in the week ending January 16. The labor market is recovering from the COVID-19 pandemic, albeit slowly. According to the Unemployment Insurance Weekly Claims Report released by the U.S. Department of Labor recently,… Read More ›