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.
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