RealPage Economy Express Episode 44

by   Arben Skivjani
  Posted   March 21, 2025
  in   Insights ,   Economy Express

Episode 44: The U.S. economic landscape presents a mixed bag with steady employment, modest consumer spending and easing inflation, though concerns persist regarding consumer sentiment and uncertainties.

  • Initial unemployment claims slightly increased to 223,000 for the week ending March 15, with a four-week moving average rising to 227,000, indicating modest layoffs.
  • Consumer prices rose by 0.2% in February, better than January's 0.5% increase, with year-over-year inflation at 2.8%, primarily due to higher shelter costs.
  • Producer prices remained flat overall, but certain food items, especially chicken eggs, surged by nearly 54%. Year-over-year producer prices rose by 3.2%.
  • Retail sales increased by 0.2% in February after a 1.2% drop in January, while annual sales growth held steady at 3.1%. Consumer confidence remains under pressure.
  • Building permits fell 1.2% in February to 1.46 million annualized units, about 7% lower than a year ago.
  • Existing-home sales rose by 4.2% in February to an annual rate of 4.26 million homes sold, with average prices climbing 4% year-over-year to approximately $398,400.
  • Renting remains more attractive than owning in many markets, and rents in some areas have been declining.
  • The Federal Reserve kept interest rates steady at 4.25%-4.5% but hinted at two possible rate cuts later this year, depending on economic conditions.

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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