Demand for Homes to Buy Continues to ClimbAcross the United States, there is a severe mismatch between the low number of houses for sale and the high demand for those houses! First-time homebuyers
The Unemployment Rate Is Down What Does That Mean For Your Clients Q32014
The aha: You still need more information to paint a complete picture The national unemployment rate sets the tone for the nation, but it is not the only figure agents should track. You should go beyond the national figures and look at the unemployment rate in your market. There are two main sources where local unemployment statistics can be located.1. The Bureau of Labor Statistics releases monthly reports on metropolitan area employment and unemployment data. The Metropolitan Area Employment and Unemployment news release for September is scheduled to be released on Wednesday, October 29, 2014, at 10:00 a.m. (EDT). You can access it by visiting the BLA website.2. Your local Chamber of Commerce likely produces monthly reports about the job performance in your area. In some cities, you are not required to be a member in order to obtain this information. Search online to see what useful local market data you can find.Another key component to consider when evaluating local market performance indicators is the presence of growth industries. Despite high unemployment rates in some regions, there are opportunities where growth industries exist. When regional areas slump, businesses often move operations in to take advantage of the lower costs. As a result, these companies create numerous job openings for either locals or other residents moving to town for the jobs. Agents who network with individuals in growth industries often find connections to potential clients because that is where the jobs are.As the unemployment rate continues a steady decline, we should expect to see increased job competition and more competitive wages, both of which have a positive impact on the housing market.______________________________________________________________________________In October, 2014, Keller Williams initiated a new five part blog series, Market ahas. The quarterly series is designed to help our associates better serve as their clients’ local economists. The topics covered each quarter are mortgage rates, unemployment, price change, inventory, and GDP. This is the second article in the series for Q3 2014.Read other articles in the series:Mortgage Rates Are Down. What Does That Mean For Your Clients? [Q3-2014]
In today’s complex and difficult real estate market you need a professionals who will do whatever it takes to market and sell your home. Jeri Patrick has a team with an established history of succes....