The latest jobs numbers suggest America’s strong housing market may have plenty of life left in it yet.
The U.S. added a 315,000 new jobs in August, showing that employers are willing to hire, despite a slowing economy and cooling housing market. The increase in hiring effectively squared with Wall Street estimates. Economists polled by The Wall Street Journal had forecast 318,000 new jobs. That’s good news for sellers, but suggests that buyers — particularly first-time buyers — face a challenge getting their foot on the property ladder. The National Association of Realtors expects home-price appreciation to slow to 5% by the end of this year and into 2023, down from 14.2% in the second quarter.
Homes are remaining on the market in August for longer for the first time in two years, the number of homes for sale has increased by more than 25%, and listing prices are falling sharply as compared to the previous month, according to Realtor.com.
This article is propaganda. Wage growth is at all time LOWS, once inflation, and stagflation are considered. Home sales and prices will continue to decline for at least another 2 years. Wage growth is stagnant, and declining. Don't believe this garbage.
This headline reminds me of somthing from the BabylonBeee
The housing market will cool a lot faster than people think. Rate increase and rising unemployment will put a damper on it.
I disagree. Rate increases will offset employment and the housing market is going to cool. FinanceSmartBoy
and keep the Fed raising rates….
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