Powerful Job Market Fuels Homebuyer Demand

 

The spring housing market has been surprisingly active this year. Even with affordability challenges and a limited number of homes for sale, buyer demand is strong, and getting stronger.

One way we know there are interested buyers right now is because showing traffic from ShowingTime is up. And though there’s less traffic than the buyer frenzy of the past couple years, we’re not far off that pace. There are a lot of interested buyers checking out available homes right now.

But why are buyers so active at a time when mortgage rates are higher than they were just last year? 

The Job Market Is Growing at a Stronger-Than-Expected Pace
It might surprise you just how strong today’s job market is. What might be even more surprising is the fact that it appears to be getting stronger. 88,000 more jobs were created in April than in March. In fact, the April numbers beat expert projections. That’s a solid indicator the job market is growing. 

Unemployment Is at a Near All-Time Low
Ever since the Fed began fighting inflation, many people expected the low unemployment rate we’ve seen over the past couple of years to rise – but that hasn’t happened. With so many people steadily employed and financially stable right now, they’re still able to seriously consider buying a home. 

What This Means for You
There are plenty of buyers out there right now trying to find a home that fits their needs. That’s because the job market is strong, and many people have the stable income needed to seriously consider homeownership. To put your house on the market and get in on the action, DM me.
 
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