Click below to watch this weeks Economic Update. Topics include the housing sector, home prices, and initial jobless claims data.
In February, both existing and new home sales tumbled. Adding to this lackluster performance, January home prices fell yet again to a new record low, according to the S&P/Case-Shiller 20-city home price index, so the markets must keep looking for the bottom in prices. The initial jobless claims data, however, continue to remain in recovery territory overall, providing more support to the recovery this year.