What's the relationship between Employment Rates & Housing Prices?
I receive an incredible amount of statistics from the real estate associations. But what do they really mean? What is the relationship between employment & unemployment rates and housing prices?
Employment rates are just one of the factors sited as affecting the housing market. But how? Logically, the more people that are employed, the more money that is available in the economy to spend. More buyers. Less supply. Increasing prices.
During covid, however, fewer people were employed. Unemployment rates were higher. And you'd think the reverse would be true. Higher unemployment. Fewer buyers. More supply. Decreasing prices.
Not true during the past 2.5 years in most real estate markets across North America. Including Whistler.
Cash buyers. Increased demand. Low Supply. Record breaking prices. Multiple Offers
Posted by Denise Brown on
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