When Careers Meet Homes: The Impact of a Thriving Job Market on Homebuyer Demand

The spring housing market has been surprisingly active this year. Even with affordability challenges and a limited number of homes for sale, buyer demand is strong, and getting stronger.

One way we know there are interested buyers right now is because showing traffic is up. Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, makes it clear more people are out looking at homes than there were prior to the pandemic (see graph below):

And though there’s less traffic than the buyer frenzy of the past couple of years, we’re not far off that pace. There are a lot of interested buyers checking out available homes right now.

But why are buyers so active at a time when mortgage rates are higher than they were just last year?

The Job Market Is Growing at a Stronger-Than-Expected Pace

With inflation still high, the Federal Reserve (the Fed) repeatedly hiking the Federal Funds Rate, and a lot of chatter in the media about a recession, it might surprise you just how strong today’s job market is. What might be even more surprising is the fact that it appears to be getting stronger (see graph below):

The latest report from the Bureau of Labor Statistics (BLS) indicates that the U.S. job market is showing signs of growth. In April, there were 88,000 more jobs created compared to the previous month, surpassing expert projections. This positive trend suggests an improving job market and can have a favorable impact on various aspects of the economy, including the housing market.

Unemployment Is at a Near All-Time Low

Ever since the Fed began fighting inflation, many people expected the low unemployment rate we’ve seen over the past couple of years to rise – but that hasn’t happened.

In fact, what has happened is the unemployment rate has dropped to 3.4% – a 50-year low (see graph below):

With so many people steadily employed and financially stable right now, they’re still able to seriously consider buying a home.

What This Means for You


Selling your house in a market with active buyers can be advantageous, as it increases the chances of generating interest and receiving offers. In a low inventory environment, where the number of homes for sale is limited, having an experienced real estate agent by your side becomes even more valuable. They can assist you in setting the right price for your house, handling offers, negotiating effectively, and ultimately minimizing the stress and challenges associated with the selling process.

Bottom Line

There are plenty of buyers out there right now trying to find a home that fits their needs. That’s because the job market is strong, and many people have the stable income needed to seriously consider homeownership. To put your house on the market and get in on the action, let’s connect.

1847 Properties
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Open 12/10
3938 Glen Oaks Manor Dr Sarasota,  FL 34232
$449,000
Neighborhood: Glen Oaks Manor Homes Ph 1
2
Beds
2
Baths
1,630
Sq.Ft.
1981
Year Built
1
Day on Site
A4591495
MLS
$469,000
Neighborhood: Phillippi Gardens 03
3
Beds
2
Baths
1,467
Sq.Ft.
1978
Year Built
1
Day on Site
A4590912
MLS
$189,000
Neighborhood: Tregate East
3
Beds
2
Baths
1,270
Sq.Ft.
1978
Year Built
1
Day on Site
A4590524
MLS
$595,000
Neighborhood: Pointe On Midnight Pass
2
Beds
2
Baths
1,029
Sq.Ft.
1975
Year Built
1
Day on Site
A4591480
MLS
$330,000
Neighborhood: Gulf Gate
2
Beds
2
Baths
1,230
Sq.Ft.
1967
Year Built
1
Day on Site
A4591767
MLS
$223,500
Neighborhood: Villagio
1
Beds
1
Baths
822
Sq.Ft.
2002
Year Built
1
Day on Site
A4590804
MLS
Open 12/10
4082 Westbourne CIRCLE Sarasota,  FL 34238
$775,000
Neighborhood: Stoneybrook At Palmer Ranch
4
Beds
3
Baths
2,270
Sq.Ft.
1995
Year Built
1
Day on Site
A4590599
MLS
$685,000
Neighborhood: Washington Heights
2
Beds
1
Baths
1,070
Sq.Ft.
1952
Year Built
1
Day on Site
A4591670
MLS
Open 12/10
2324 Canalbluff PLACE #294 Sarasota,  FL 34231
$319,900
Neighborhood: Strathmore Riverside Villas
2
Beds
2
Baths
1,312
Sq.Ft.
1971
Year Built
1
Day on Site
A4591505
MLS
$1,000
Neighborhood: 0600 - Pinecraft
3
Beds
3
Baths
1,266
Sq.Ft.
1945
Year Built
1
Day on Site
A4591817
MLS
$539,000
Neighborhood: South Gate
3
Beds
2
Baths
1,592
Sq.Ft.
1957
Year Built
1
Day on Site
A4591188
MLS
$1,699,900
Neighborhood: South Highland Amd Of
4
Beds
3F21/2
Baths
2,521
Sq.Ft.
2020
Year Built
1
Day on Site
U8222938
MLS

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