3/31: MetroIntelligence Economic Update by P. DUFFY

Pre-pandemic pending home sales up 2.4 percent in February and 9.4 percent year-on-year The Pending Home Sales Index (PHSI) grew 2.4 percent to 111.5 in February, and was up 9.4 percent year-on-year. An index of 100 is equal to the level of contract activity in 2001. https://www.nar.realtor/newsroom/pending-home-sales-increase-2-4-in-february   PCE Price Index up 0.1 percent in February and 1.8 percent year-on-year Pre-pandemic inflation update: The PCE Price Index rose 0.1 percent in February, but rose to 1.8 percent year-on-year. The ‘core’ index (minus food and energy) rose 0.2 percent in February…

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