How a Drop in Unemployment Last Month Will Help Sell Your House
Posted by Matthew Boreen
on Monday, 05 December 2011 in Real Estate One Stop Shop Blog
Matthew Boreen
Founder of RealEstateSwap.com. I kiteboard, snowboard, work with robots, study AI, and play jazz clarinet.
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After years of high employment and businesses feeling a strain from the economy, the nation’s unemployment rate fell to 8.6 percent in November. This comes in at a two and a half year low, showing evidence the nation’s economy may be heading in the right direction. So what does this mean for the real estate market or selling your house fast?When talking about nationwide home sales and home prices, factors beyond most seller’s control will dictate what a home will sell for. Similar to the stock market, these factors fluctuate based on businesses hiring and firing or how consumers fear or feel about the economy.
When potential home buyers are looking at homes and debating whether or not to buy, hearing of reports about layoffs and high unemployment will cause them to feel uneasy about buying a home. When a qualified buyer hears a report that the economy is moving in a positive direction and businesses are hiring, this reinforces to them that buying a house is a smart decision. Because of this, buyers tend to buy your house faster and typically for more money when the economy is improving.