Home Sales and Job Market Show Strength

• Weekly jobless claims fell unexpectedly, showing the labor market remains strong

• Existing home sales jumped 9.5% in February, the largest monthly increase since February 2023

• Home inventory rose 5.9% to 1.07 million units, helping to ease tight supply conditions

• The median existing home price was up 5.7% from a year earlier to $384,500 in February

• A gauge of future economic activity turned positive in February for the first time in two years