Unemployment rate drops as Real Estate Market rises in Houston

According to an article published on August 9th of this year, the U.S. Bureau of Labor Statistics reported that Houston is among the five most improved markets in terms of job growth during the second quarter.
The report, conducted by On Numbers, assessed scores to each of the nation's 100 largest cities, based upon annual private-sector growth rates during the past five years, unemployment rates over the past 12 months and raw changes in private-sector employment during the last five years.

Houston received a score of 1.113 followed by Boston with 1.457, followed by Ogden, Utah; Worcester, Massachusetts, and Dallas-Fort Worth.

So what does this mean exactly? Well, some could interpret it as we are starting to see an improvement in job growth & security which in turn will improve the housing market. Also, it seems that even in these times of financial difficulty, we are less affected compared with the rest of the country. With the national unemployment rate still hovering around 9.1% and that isn't really an accurate count because of the number of people who don't recieve unemployment. If you are concerned about Selling your house in this market, get a free-market analysis (we do this for all of our clients). What we are seeing is that most homes (while some sit longer on the market than others. Mostly due to condition of the home or Location) many in The Woodlands are selling for close to List Price. Buyers are at a great advantage because of record low interest rates & home prices are still lower than they were a couple of years ago.