Jobs Data and Pending Home Sales Show Signs of Healing

by Marilou Long on April 6, 2010

in Credit Crisis,Economic Indicators,Employment,Residential Real Estate

From the :

“The Labor Department said in a report that nonfarm payrolls rose by 162,000 in March, the largest gain since March 2007, but below expectations of a 200,000 increase. That compared to a revised 14,000 decline in February, when the number was likely depressed by the blizzards that hit the East Coast.”

The Pending Home Sales Index rose 8.2% in March.  Housing and employment have been big drags on the domestic economy and consumer sentiment, and these recent reports show signs that the price action in consumer discretionary stocks may finally be backed up by some data.  We will need to see some follow-through.  According to the article linked above from the National Association of Realtors, the surge may have been in response to the home buyer tax credit.

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