May 27, 2018

Latest Unemployment Drop May Boost Housing

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Latest Unemployment Drop May Boost Housing

The economy is adding jobs, and that likely will bode well for the housing market in the coming months as consumers feel more confident about their earnings, economists say. 

Hopeful Signs

Expect a Strong Spring Housing Market

Home Ownership Rate Finally Makes Gains

94% of Young Renters Want to Buy

With 242,000 jobs added to the U.S. economy in February, the unemployment rate is now at 4.9 percent, according to new data released by the Bureau of Labor statistics. The unemployment level is now at the lowest point since May 2008.

“February’s employment situation report should strengthen confidence,” says Jonathan Smoke,®’s chief economist. “Additionally, the strong pace of job creation should lead to continued positive household formation. Combined with substantial pent-up demand for home purchases, we remain confident we will see the strongest spring buying season in a decade.”

Source: U.S. Bureau of Labor Statistics and “Unemployment Scrapes Lowest Level Since 2008,” RISMedia (March 6, 2016)