RealPage Economy Express Episode 23

by   Arben Skivjani
  Posted   March 21, 2024
  in   Economy Express ,   Insights

Episode 23: What are the complexities of a balanced economic recovery?

  • Nonfarm payroll employment surged by 275,000 jobs in February, the Bureau of Labor Statistics reported.
  • Revised RealPage employment forecasts for the top 50 metropolitan areas show significant growth, with Texas dominating half of the markets.
  • Annual inflation ticked up to 2% in February, with notable contributions from shelter and gasoline prices, according to the Consumer Price Index.
  • Inflation is expected to decrease in upcoming months, aligning more closely with the Fed's expectations.
  • Mortgage applications fell by 1.6% in the latest weekly showing, influenced by higher mortgage rates, according to the Mortgage Bankers Association’s seasonally adjusted index.
  • There’s still a significant number of apartment units under construction in the multifamily sector.
  • The Federal Reserve maintained interest rates recently and have plans for three quarter-percentage point cuts by the end of the year.
  • Recent trends indicate the U.S. economy is undergoing dynamic changes.

For more information on the state of the U.S. Economy, including forecasts, watch all the episodes of the Economy Express series.

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