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California Weekly Market Data for week ending April 8, 2024

Another strong report for the job market in March

The latest jobs report continued to suggest that the labor market remained solid, which might have provided more reasons for the Fed to stick with its wait-and-see approach to cuts. 

Futures point to doubts over Fed’s rate cut plans

With March’s consumer price index scheduled to be released later this week, the market will hopefully get some assurance that the cool-down in inflation remains intact, and the Fed is still on course to cut rates later this year.

Encouraging sign for the spring home buying season

Those who said it was a good time to buy rose 2 percentage points to 21% and those who said it was a good time to sell inched up 1 percentage points to 66%. 

Consumers provide mixed signals about inflation expectation and labor market outlook

Consumers expectations on inflation a year from now remained unchanged in March, increased at the medium-term horizon, and decreased at the longer-term horizon, according to the latest New York Fed’s Survey of Consumer Expectations.

Homeowners concern about impact of weather on insurance premiums

A study conducted by Fannie Mae indicates that consumers are concerned about how weather-related events could have an impact on their homes and their insurance premiums.

With the jobs report coming in stronger than expected for the third month in a row, a soft landing in 2024 is looking more and more likely for the economy. A decent growth rate in economic activity, however, is also keeping inflation elevated and delaying the Federal Reserve’s rate-cut movements. 

SOURCE : California Association of Realtors

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