Amidst recession speculations, the economy remains resilient. Why? A robust job market and rising wages. Delve into the latest insights and discover why this is a silver lining for potential home sellers.
More Jobs, More Opportunities
Unlike recessions, our economy thrives, churning out jobs. July witnessed the creation of 187,000 jobs, surging from June's 185,000. This job boom keeps the unemployment rate far below the long-term average of 5.7% (graph below).
Low unemployment signifies a job-ready populace, often translating to stable incomes—ideal conditions for homeownership contemplation.
Boosted Earnings, Elevated Dreams
Hourly earnings have consistently ascended (graph below), providing individuals with more financial flexibility. Escalating wages enable savings for a home or supplement the housing market's affordability challenge. As Builder Online explains:
"The housing market has been a beneficiary of the strong economy and labor market... used those funds toward a down payment on a home.”
Considering selling? The robust job market, augmented wages, and the subsequent surge in buyer demand are music to your ears. A larger pool of potential buyers, poised for homeownership, awaits.
Bottom Line
The confluence of burgeoning jobs and increased wages propels buyer interest, aligning the stars for you. Let's connect to navigate your house selling journey, setting the perfect price and getting your home show-ready. Your key to a successful home sale lies here.
