An increase in US hiring whets every home buyer's appetite.
(Lake Tahoe Real Estate Blog / March 15, 2012 / Richard Bolen)
We're seeing this often these days, and here's today's take on the weekly US report: "fewer people sought U.S. unemployment benefits last week, adding to signs that the job market is strengthening." Like everywhere, this is certainly good news for South Lake Tahoe too.
More hiring means more jobs and more folks working, and that's fundamental to a quicker return to a full functioning, healthy housing market, both across the country, and here in South Lake Tahoe.
Here's a few bullet points from today's Associated Press article:
- Another good sign for the economy is wholesale inflation is manageable outside of higher gas prices.
- Applications for unemployment matches a four-year low reached last month.
- Applications consistently below 375,000 usually signals that hiring is strong enough to lower the unemployment rate.
As has been frequently reported here, it is the US employment rate that we most look at in considering the overall real estate market. Not long after unemployment rates get significantly better, which they have been so doing for some time now, home values will stabilize… and then start back up.
In other words, coupled with historic low interest rates, the time to buy is before home prices start to rise.
(Full article here.)
Some previous Lake Tahoe Real Estate Blog posts about US employment and jobs market.
Feb 17, 2012: US Unemployment Applications at Four-Year Low
Jan 5, 2012: First Jobs Report of the Year is a Good One
Dec 27, 2011: 2011 Year End Economic Indicators
Dec 13, 2011: US Housing Affordability Now at Record High
Dec 12, 2011: South Lake Tahoe, CA Home Values and Distressed Sales right now
Oct 2, 2011: More South Lake Tahoe, CA Home Value is Q3 Trend
Jul 6, 2011: Q2 2011 South Lake Tahoe, CA Real Estate Report
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report
Comments(0)