4/9: MetroIntelligence Economic Update by P. DUFFY

March Home Purchase Sentiment Index jumped 5.5 points to 89.8

The Fannie Mae Home Purchase Sentiment Index® (HPSI) jumped 5.5 points in March to 89.8, reversing February’s slight decline, and reaching its highest point since June 2018. Increases in the “Good Time to Buy” and “Good Time to Sell” components drove the measure of consumer sentiment higher, with the two rising 7 and 13 percentage points, respectively.



March job growth rebounded sharply to 196,000

Total nonfarm payroll employment increased by 196,000 in March, and the unemployment rate was unchanged at 3.8 percent. Notable job gains occurred in health care and in professional and technical services.



February credit use rose another 4.5 percent

In February, consumer credit increased at a seasonally adjusted annual rate of 4.5 percent. Revolving credit increased at an annual rate of 3.25 percent, while nonrevolving credit increased at an annual rate of 5.0 percent.