The National Association of REALTORS® reported that existing-home sales declined 3.6% in March to a seasonally adjusted annual rate of 3.98 million, down 1.0% year-over-year, with single-family home sales falling 3.5% to an annual rate of 3.63 million, decreasing 0.3% from one year ago. Total housing inventory rose to 1.36 million units, up 3.0% from February and 2.3% year-over-year, representing a 4.1-month supply of unsold inventory, up from 3.8 months in February and 4.0 months one year ago. The median existing-home price for all housing types increased to $408,800, rising 1.4% year-over-year and marking the 33rd consecutive month of annual price gains. NAR Chief Economist Lawrence Yun noted that sales activity remains subdued due to lower consumer confidence and softer job growth, while persistent inventory constraints continue to support home prices despite a modest increase in available listings.

The U.S. Bureau of Labor Statistics reported that the Producer Price Index (PPI) for final demand rose 0.5% in March (seasonally adjusted), following increases of 0.5% in February and 0.6% in January. Over the past 12 months, final demand prices advanced 4.0% (unadjusted), marking the largest annual gain since February 2023. The March increase was driven entirely by goods, which climbed 1.6%, while services were unchanged. Within goods, the rise was led by a sharp 8.5% jump in energy prices, accounting for the majority of the increase, while goods excluding food and energy edged up 0.2% and food prices declined 0.3%. A significant portion of the goods advance was attributable to a 15.7% surge in gasoline prices. On the services side, gains in transportation and warehousing (+1.3%) and services excluding trade, transportation, and warehousing (+0.1%) were offset by a 0.3% decline in trade service margins. Core PPI (final demand less foods, energy, and trade services) rose 0.2% in March, following 0.5% increases in each of the prior two months, and increased 3.6% over the past year, matching the largest annual advance since November 2025.

The Federal Reserve Bank of Philadelphia reported that its Manufacturing Business Outlook Survey index increased to 26.7 in April, up from 18.1 in March, marking a fourth consecutive monthly gain and indicating continued expansion in regional manufacturing activity. The increase was driven by stronger demand, as the new orders index rose 24.4 points to 33.0, while the shipments index advanced 11.8 points to 34.0. Employment conditions softened, however, with the employment index falling 5.9 points to -5.1, suggesting a modest decline in payrolls. Price pressures accelerated further, with the prices paid index rising 14.6 points to 59.3 and the prices received index climbing 12.3 points to 33.5, both reaching their highest levels since August 2025. Firms remained generally optimistic about future conditions, with the future general activity index edging up 0.8 points to 40.8 and the future capital expenditures index increasing 9.4 points to 35.2 (its highest reading since August), even though expectations for new orders and shipments moderated.