Home Sales and Economy See Contrasts as Older Workers Retire, Fed Eyes Better Balance

New home sales fell 0.3% in February compared to January, though they remain 5.9% higher than a year ago. This contrasts with existing home sales, which jumped 9.5% in February.

Research shows an increase in retirement among older workers, especially those without college degrees and white workers. This is reshaping the workforce and economy.

Manufacturing activity in Texas declined in March, reversing February's gains, though expectations for future production moved higher.

Federal Reserve Governor Lisa Cook said there is now a "better balance" between the Fed's goals of maximum employment and stable inflation. This allows for a "careful approach" to future rate hikes.

High mortgage rates have made homebuyers reluctant, resulting in fewer homes for sale. Building more new homes could help unlock the market.