If the real estate market can rebound, look for the economy to pickup more momentum. If this does happen look for home values and interest rates to increase.

Last week, Reuters reported that the U.S. employment had a significant drop in the jobless rate.  This unemployment drop has led to a near three-year low of 8.5%. This is a strong sign that the economy is picking up its steam and motoring along.

But with every piece of good news comes a piece of not-so-good news.  In the Reuters report last week, both were sporadically incorporated.  So we'll ask you that ever-popular question: what do you want first--the good news or the bad news? 


THE GOOD NEWS, first:

• The unemployment rate fell to 8.5%, its lowest unemployment level since February 2009
• The dollar rose to a near 16-month high against the euro
• Private sector added 1.9 million jobs in 2011 
• Hourly earnings rose four cents in 2011

THE BAD NEWS:

• Employment remains approximately 6.1 million below its pre-recession level 
• There are 4.3 unemployed people for every job opening
• 23.7 million Americans are either out of work or underemployed
• Government employment fell 280,000 in 2011

Industries have been recovering from the recession at drastically different speeds.  The construction industry, for instance has seen payroll increases as mild weather has boosted groundbreaking for new homes.  Transportation, warehousing, manufacturing and factory employment jumped significantly in 2011. Retail as seen slow growth.

If the real estate market can rebound, look for the economy to pickup more momentum. If this does happen look for home values and interest rates to increase.

There is no better time to buy a home in Kansas City. Interest rates and home values are still low.

RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

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