By Shaina Mishkin

The Census Bureau's latest population estimates illustrate how housing supply supports -- or stunts -- growth. More than two-thirds of metro areas in June 2025 had fewer listings than in 2019, before the pandemic supercharged housing and rising mortgage rates pushed buyers and sellers to the sidelines. But of the 10 fastest-growing metropolitan areas in 2025, nine had more homes for sale than before the pandemic, a Barron's analysis of Realtor.com and government data suggest.

The central Florida metro of Ocala had the biggest population percentage gain in the U.S. last year, per Census estimates, followed by Myrtle Beach and Spartanburg, S.C. Listings in No. 6 Huntsville, Ala., were 78% higher than in 2019. "What [the data] does tell us is that there is still demand for housing in more affordable parts of the country," says Eric Finnigan, vice president of demographics research at John Burns Research and Consulting.

Areas such as the Northeast lost population. Finnegan notes that mortgage rates and prices remain high in many cities, making relocation difficult. Owners, he says, may be holding out for higher prices and a pickup in activity.

Those headwinds for existing owners make new houses more critical. "The places where there's a lot more supply is where homes are going to be more affordable," says Finnegan. "The job market is really slow. So the No. 1 driver for migration between metro areas is affordability."

Write to Shaina Mishkin at shaina.mishkin@dowjones.com

Last Week

Markets

The week began with Brent crude oil topping $116 barrel after President Trump talked of taking Iranian oil. Stocks struggled as the average U.S. gasoline price topped $4 a gallon, then surged as Trump suggested that war would end soon. On Thursday, stocks sold off after Trump's prime-time speech, then rose on signs that Iran and Oman might reopen the Strait of Hormuz. Employers added 178,000 jobs to payrolls in March, and unemployment fell to 4.3%, according to the jobs report released on Good Friday. For the week, the Dow rose 3%; the S&P 500, 3.4%; and the Nasdaq Composite, 4.4%.

Companies

Eli Lilly won U.S. approval for an anti-obesity pill and signed a $2.75 billion deal with Insilico Medicine, a Hong Kong drug developer that employs artificial intelligence. Alphabet backed a $5 billion Anthropic data center in Texas. OpenAI closed a $122 billion financing round, valuing its equity and cash at $852 billion. Nike warned of sales declines. The administration will impose tariffs of up to 100% on patented drugs, unless companies cut prices or invest in the U.S.

Deals

Unilever announced a $44.8 billion deal with McCormick to merge food operations... Sysco agreed to buy family-owned wholesaler Jetro Restaurant Depot for $29.1 billion... Biogen agreed to buy immunology company Apellis Pharmaceuticals for $5.6 billion...Eli Lilly will acquire sleep medicine company Centessa Pharmaceuticals for an initial $6.3 billion...SpaceX filed for its initial public offering, possibly in July.

Next Week

Monday 4/6

The Institute for Supply Management releases its Services Purchasing Managers' Index for March. Consensus estimate is for a 54.9 reading, about one point less than in February.

Wednesday 4/8

The Federal Open Market Committee releases the minutes from its mid-March monetary-policy meeting. At that meeting, the FOMC kept the federal-funds rate unchanged at 3.5% to 3.75%.

Thursday 4/9

The Bureau of Economic Analysis releases the personal consumption expenditures price index for February. Economists forecast a 2.8% year-over-year increase, matching January's data. The core PCE index is expected to rise 3%, one-tenth of a percentage point less than previously.

Friday 4/10

The Bureau of Labor Statistics releases the consumer price index for March. The consensus call is for a 3.4% jump from a year earlier, a full percentage point more than in February. The core CPI is seen rising 2.7%, compared with 2.5% previously. This is the first inflation report to capture the effects of the war with Iran, and that is reflected in the estimates.

The Numbers

$9.46

Average U.S. retail price of a pound of roast coffee, up over 120% from $4.17 in January 2020.

6%

Rise in aluminum prices on March 30, to a four-year high, after two Gulf smelters were hit by Iran.

30%

The fall in U.S. TV and film employment from a late-2022 peak as domestic production declined.

$1.2 T

Total value of M&A deals announced in the first quarter, a record, including 22 over $10 billion each.

Write to Robert Teitelman at bob.teitelman@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

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April 03, 2026 18:10 ET (22:10 GMT)

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