‘The Covid-19 recession is over,’ says economist Zandi as May job losses not as bad as feared

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‘The Covid-19 recession is over,’ says economist Zandi as May job losses not as bad as feared


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Finding good news in the loss of another 3 million jobs isn’t easy, but the steep drop in private payrolls for May could be a sign that the worst over.

New home sales rose slightly in April, defying expectations of a huge 22% drop, as prices fall

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In perhaps one of the brightest economic readings since the start of the coronavirus pandemic, sales of newly built homes rose nearly 1% in April compared with March, according to the U.S. Census. While that may not seem like a lot, they were expected to fall 22%.

Mortgage demand from homebuyers shows unexpectedly strong and quick recovery, as applications spike 9% from a year ago

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It’s not as if the coronavirus pandemic has gone away, but after a sharp pullback, homebuyers are now piling back into the housing market much faster than expected.