What’s on the financial calendar for 3/6 – 3/10?
This week will feature the following announcements and financial report releases that may have an impact on the markets:
Monday, March 6th
Factory Orders data for Jan 2023
Tuesday, March 7th
Fed Chariman Powell testifies in front of the Senate
Wholesale inventories data for Jan 2023
Consumer credit data for Jan 2023
Wednesday, March 8th
ADP employment data for Feb 2023
Fed Chairman Powell testifies in front of the House
Job Openings data for Jan 2023
Beige Book
Thursday, March 9th
Jobless claims for the week of March 3rd
Fed Gov Waller speaks
Friday, March 10th
Employment report for Feb 2023
US unemployment rate for Feb 2023
Federal budget for Feb 2023
What does the Spring housing market look like?
Spring is right around the corner! The change in seasons usually brings a warmer housing market. What do the experts predict for Spring 2023? MarketWatch surveyed seven industry experts, and their predictions shouldn’t come as a huge shock.
Mortgage rates will be unpredictable, prices will remain stable, inventory will be a challenge, and the markets will be active were just a few of the predictions the experts surveyed made for the Spring.
When asked how busy the market would be, Jeff Tucker, a senior economist at Zillow, stated, “Buyer traffic is expected to pick up in March like it always does at this time of year and more sellers will list their homes than in January or February.”
Have home prices hit a turning point?
According to Barron’s, the housing market has hit a turning point, and housing prices should start to cool off a bit more in the coming months. Citing the recent home price data released from December and January, home prices have slipped month-over-month, but still remain elevated from levels from a year ago.
However, housing market forecasters have predicted a cool off coming soon. Fannie Mae expects its home price index to drop below levels from a year ago in Q2 2023. The National Realtors Association expects quarterly existing home sale prices to drop in the second and third quarters of 2023.
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