_{ECONOMIC NEWS}

​March home sales drop to their slowest pace since 2009

In March 2025, U.S. home sales fell to their slowest pace for the month since 2009, with sales of existing homes dropping 5.9% from February and 2.4% compared to a year earlier. The decline is largely attributed to persistently high mortgage rates—over 7% early in the year—and growing concerns about the broader economy. Despite a nearly 20% increase in housing inventory from March 2024, the market remains tight, with a 4-month supply still below the balanced 6-month benchmark. The median existing-home price rose to $403,700, an all-time high for March but only 2.7% above last year’s level, marking the smallest annual gain since August. The West experienced the steepest monthly sales drop but was the only region to post an annual gain, fueled by strong demand in the Rocky Mountain states. First-time buyers accounted for just 32% of purchases—below the historical average—and all-cash sales dipped slightly to 26%, while investor activity remained steady at 15%. With rising contract cancellations and increasing consumer anxiety over inflation and job security, economists warn that market conditions may worsen in the months ahead. Read More.

_{US NEWS}

Dollar has further to fall, says Goldman Sachs chief economist

Goldman Sachs Chief Economist Jan Hatzius warns that the U.S. dollar has “considerably further to fall,” citing ongoing recession fears and uncertainty around U.S. tariffs. The dollar has already dropped over 4.5% in April and 8% year-to-date, putting it on track for its steepest monthly decline since 2022. Hatzius notes that historical parallels from the mid-1980s and early 2000s suggest a potential 25–30% depreciation. While a weaker dollar could help narrow the trade deficit by boosting exports, declining global appetite for U.S. assets—currently estimated at $22 trillion—poses a risk to financial stability. Hatzius emphasizes that dollar weakness does not mean the loss of its reserve currency status but reflects shifting economic fundamentals, with U.S. growth projected to slow to 1.8% in 2025. Read Now.