Houston Market Movements-Week of July 9th

In June, for the first time in almost a year, the unemployment rate rose to 4 percent. There is an upward pressure on wages due to the high demand for employees but low supply. Adding more than 213,000 paying jobs last month creates a strong job market and is perceived to be a healthy increase by economic forecasters. People who are employed, with higher wages, are great for residential real estate. 

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In the Houston region, for the week ending July 1:

  • New Listings increased 2.2% to 3,339
  • Pending Sales increased 20.4% to 2,279
  • Closed Sales decreased 3.6% to 2,754

Source: Har.com